prr today, page-32

"time for everyone to relax and take a breather ......"

Phil, taking a breather is what imo the stock is doing. It had a nice run yesterday and now buyers are holding back letting some of that up momentum to deflate/retrace. Happened last week also.

Retraces a also possible for a whole variety of factors including the general market and TA based selling. The relative strength index gave an oversold signal back on 27 June when the stock closed at 9.8c and since then has ground its way up to 12c on 23August when an MACD buy signal occured and the stock rose steeply from that point whereby it has since hit the 20c mark. While on the odd day such as yesterday there has been good volume the rise from 12c to 20c has not been overly convincing as evidenced by the fact that the stochastics signal I have been looking for has not yet arrived. Further evidence of this is the fact that the Relative strength index gave an overbought signal cob last Thursday.

So from what I can gather to me it appears that the uptrend has been from structured buying with buying surges followed by a degree of retrace. As I key this I glanced at the PRR chart that clearly shows this pattern. On a positive note the uptrend hasnt seen any madhouse buying yet so hopefully it was mainly well thought out considered buying. Also hopefully( lol) This ought to mean that we dont get a sudden collapse in the sp. I cant see any reason why leading up to the results the momentum would not pick up and be to the upside- unless of course someone knows something that we dont lol.

I hope I am forgiven for posting on a TA perspective but I do point out that imo from that perspective that while the rise from June has been fantastic, the surge from 12c to 20c hasnt been as convincing in terms of price to volume. I hope its just a case of smart buying because if it is those wise buyers would be expecting a substantial return from their equity. All hinges on how well received or not will be the ICS data and interim results. In coming weeks all will unfold and in symbolic terms all I can say is - fingers crossed and good luck to all holders.