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Looking at it solely from the technical standpoint, BluePhoenix Solutions Ltd. (NASDAQ:BPHX) is, without doubt, heading north. The company began 2006 at $3.85 and since then it has climbed 76%. While this climb may have taken the form of 'two steps forward and one step back,' the trend is clearly evident.

A member of the Emblaze Ltd. group, BluePhoenix, which now specializes in the optimization and upgrading of software systems announced yesterday that it had completed an application and platform migration project for a leading financial services firm, including the migration of certain systems to an Oracle/UNIX operating environment.

BluePhoenix has an extremely wide customer base and it is one of those companies that has access to a rapidly expanding market, and which has the know-how it needs to operate in it. I am referring here to a field known as "Network-based operations optimization," which includes a diverse range of sub-niches such as revenue assurance, theft prevention, system-wide security, upgrades of existing systems or adaptation to ERP systems such as digital documentation and others. As I see it, BluePhoenix remains firmly focused on its strategy, and that, apparently, is a good reason for the trend in the stock.

BPHX 1-yr chart

BPHX

Published originally by Globes [online], Israel business news - www.globes.co.il
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006. Republished on Seeking Alpha with full permission.

Source: BluePhoenix: On The Rise