***OT****for Addi
Addi,
PSIX is at the top of a very long term trading range and is just now (possibly today) attempting to break out. It's doing a darn good job of it so far, already !1/3 over average daily volume, good MA setup, and excellent formation. If I owned the stock at 7 I'd hold and see b/c the reward potential is there. With a breakout I would look for 12 1/2 pretty quick, and I could choose to trade out there and wait for a poss pullback to 9+ to buy back in, or leave it behind. Actually, the dynamics of a breakout here would signal higher numbers than 12 1/2 to me, in time. On the other hand it might NOT break out here, and a failed breakout will put you back to at least your entry point IMHO and poss lower and poss quick! So, it's a judgement call. (Feelin' lucky? <g>) Odds are in favor of a breakout imho, but you never know.
That's my best take only from looking at the chart real quick. I don't know the first thing about this company! If I were to go long I would find out what it is that's possibly turning this company around, b/c up until now the overall trend has been down long term, so a break to the upside would be a strong signal that something very new is happening there. All given imho....please, take it FWIW.
Good luck with it,
E |
