Shall we watch Psion (PON)?

ChartMan

Legendary member
Spot on I think. I make the Resistance/Support switch point at 132...today's low going to 132,closing strong at 138.
 
Looks good Riz. I decided to wait til Mon having bought ARM. Did'nt want to risk too much before seeing how the NAS finished.
Steve
 

Riz

Experienced member
Up +13 (9.5%) at 150...after retracing from 155 to 139 and closing between 139-137 a few days during which PON hovered between 132-140 intraday...proving 138 to be the bottom of its new trade range PON might even try and break the top of the last range which is 155...managing to do this will open the way up to 190...even if it fails to do this, 138-150/5 trading range refers to a movement of around 10% in a day or so which is not something to ignore...

PON certainly deserves to be watched closely...

I am not holding any at the moment having missed a possible entry at 140 this morning...I'll keep watching it closely however...

RSI still strong, MFI ticking up, stochastics and OBV flat however...

Riz
 

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Riz

Experienced member
Ohh..forgot to add that Goldman Sachs raises EPS forecasts for 2001, 2002...and;

Palm has warned sales will be half that previously expected at $130 - $140M. Normally bad news for PON as they are in the sector... on the other hand it's argued that all already priced in and it might mean PON are taking Palms market share...

So we watch keeping those in mind...
(Wonder what Steve is doing with this one)

Riz
 

Riz

Experienced member
I'm trying to catch them around 138, Steve...

Riz
 

Riz

Experienced member
Thanks Martin....

PON retraced today -8.75 (-5.8%) to 141.25 in solidarity with PALM...

Riz
 

ChartMan

Legendary member
It gives an idea of possible target prices, based on Fibonacci theory,from a peak to a fall, rising to recovery.
 

esiotrot

Active member
Hi
I've only just looked at this thread again today after the initial opening posts.

I do look forward with some interest to the direction PON takes.

However (theres always a "however" isn't there?) I'm not sure that this is going anywhere.

RSI has peaked at levels where PON has reversed.
CMO has signalled a "sell"
The close has shown "outside/inside" on the Bollinger Bands, with the "inside" being lower on reduced volume compared to the "Outside"

My guess is it's going to test April lows.

Still on the sidelines

Peter
 
Its the difference of opinion which makes trading such a difficult game. Either way i don't think i'll be holding for long on Mon and although i don't think we'll see April lows, unless the nas goes down the pan, that would suit me fine.
You don't get many chances for 20% - 30% gains over short term.
Steve
 
 
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