Well, I'm certainly no charting expert, but the shape of the trend, having rested awhile after that first run-up, and now having digested the move, looks pretty positive to my untrained eye.
I read on Commsec:
PIL appears to be in a strong bullish trend confirmed by multiple indicators. Specifically, a 5-day moving average of the stock price is above the 20 and 50-day moving averages. Additionally, a long-term bullish signal is offered by the 200-day moving average which is trending higher.
At which point, you'd kinda expect all the technicals to become self-fulfilling as more and more traders come to appraise the stock.
Maybe some of them will even investigate why the timing's about right, and just what promising enterprise PIL has been quietly piecing together this past couple of years.
PIL Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
