I agree there is a technical breakdown here. I had the previous upward movement low (1.58) as the last support, could get nasty now.
I ask myself though the upward movement wasn't on the back of nothing it was on the back of increased guidance (which was then increased again). Unfortunately, the worries around customer growth slowing as well as the inevitable rotation from tech stocks into cyclical stocks has nobody buying.
It's hard to sell knowing that this business in 3 years will be worth well north of the current SP, although the technical factors are worrying.
Pretz
PPH Price at posting:
$1.56 Sentiment: Hold Disclosure: Held
