Nice Technical Picture Plus An 8% Dividend - Jeff Pierce

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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More

My company:: Astrology Traders
My blog:: zentrader.ca

Nice Technical Picture Plus An 8% Dividend 0 comments

Sep 10, 2012 12:35 PM | about stocks: POOSF.PK

I don't normally look at a stock that would appeal to dividend investors with an 8% yield, but a reader asked my thoughts. Since I was doing the technical analysis I may as well share with all of you given how attractive it looked from a technical and fundamental perspective.
After a very successful IPO in 2011 this went from $10-$17 and since then appears to be forming a very stable base. Having just recently broke out of a wedge pattern it looks as if this is soon to challenge it's all time highs around $16.75-17. I would expect it to break through with an 8 month base to provide the foundation to shoot through resistance this has very good prospects in the next 4-6 months.
Only Drawback: Anemic volume.
Conclusion: This won't be for many but it does look like a chart that has the technicals and fundamentals in sync and could be a good low risk opportunity to stash some funds given the extremely volatile market.
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Stocks: POOSF.PK

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