I'm in PMY as I like the story, been on my watchlist since...

I'm in PMY as I like the story, been on my watchlist since around 0.06c but didn't really have the balls to enter at that point. However, when I saw it reach 1.3c last month I waited for a pull back and got back in.

It's been good to see solid buying and accumulation this week, but as always it's always good to question your investment choice. So I've had a look and the weekly chart tonight to see if in hinsight I've managed to get into PMY at a good price.




A: The long term down trend, a big negative and needs to be broken and held. The big headwind that we have to over come.
B: Moving averages have started to trend upwards. Positive.
C: MACD has just moved into a positive uptrend. Never fight the MACD
D: RSI now into positive figures +50.
E: Cup and handle, the cup has formed and we're now in the handle.

What I didn't show is the volume which has been very good on this move, another positive.

So from all these pointers I feel that we're in a strong position to hold tight and reap the benefits. However, what will be the fundimentals that break us out of that longer term down trend?

Sandy