prime focus , is breaking a long term trend line, this week.
opens up upwards trgts to next resistances = 76 & 88 ~~~~ 45% & 65%
to be bought on dips, this could be a medium term to long term bet, 3-6 months..
PFOCUS- daily chart trading in cup and handle pattern and now if stock break 56.00 level and sustain above this we can see upside towards 68.00/76.00 levels soon with the help of 48.00 support level.
Seems the big movements are based on TWO factors (as per info available):
IPO of UK subsidiary
and
Receipt of Sale proceeds of other subsidiary done for USD 11 M.
The stock is gearing up for a big break out after a good round of consolidation and an initial false whipsaw of a break out given! Once cleared above red line on closing, more strength can be expected then!
It has been observed in the monthly chart price action is above the long term support area. Heavy volume shows the stock is in accumulation phase. It shows how the investors are accumulating their assets. Since the accumulation has taken more duration I expect this stock to move upside with full strength. A good investor always finds a stock when it is in...
