Sunday, 2 September 2007

Raise the Flag for PCOR

A rare time for PCOR to be showing some interesting signs of resilience...or is it just an illusion? Let's check it out...

What is sure is that PCOR broke through the short term resistance at 5.50 and is currently doing 5.70. What seems to be a flag looks suspect though. There is no significant volume that accompanied the break out. Yet, the MACD has signalled a short-term play as it's rallying from recent lows.

Should the current formation prove to be correct, the resistance is 5.70 and the projected upside target would be at 6.00. Unfortunately, this is too small an upside for me to even get excited.

Hopefully we'll see more issues giving us better signs in the coming weeks.

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