What worries me (and has done so for several months) is the lack of buying support to push the stock northwards. Let's face it, the story behind PSY is no secret. Yet there is no solid upwards momentum behind PSY. It goes up 2c then falls 3c. The people at Cisco know the story. Why are they not buying it? I have been buying AJX which has an equally compelling story, is probably easier to understand, and is kept well informed by an attentive management. Have a look at the stock of AJX on a chart. It has been moving up steadily since November 6th of last year when you could have bought in at 16c.AJX is currently 77.5c and rising beautifully! On the same day PSY was 31c and where are they now? The PSY AGM was not only well attended but was informative. I would suggest that our board gives the market an urgent update!
The www.barcharts.com web site gives a sell on PSY & strong buy on AJX. Obviously this is based on a series of momentum indicators and a positive advice from PSY would change the recommendation in a trice. Meanwhile the natives are becoming restless!
PSY Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
