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6,900 Posts.
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13/10/09
17:26
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Makattack,
that maybe being a little harsh.
The way i now see PDY is there is strong resistance at 3cents which it would need to break with decent volume to consider a buy back.
If it breaks 3 cents a good opportunity could present.
I just dont like its chances at the moment as there is a fair amount of weakness showing.
A break below 2.7cents could me a swift decline especially as some momentum has increased to the downside.
It would be a rare species that would just turn around and fly from here considering the downside momentum it has gathered.
I believe it would need to show signs of consolidation which could then offer an indication of which way it may move.
Cheers
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