May
25
PRGX: PRG-Schultz International
May 25, 2008 | Leave a Comment
This (very) messy 12 month chart of PRGX on the left is showing a few good signals.
Primarily I believe PRGX has formed a cup with handle pattern and will be testing the upper resistance shortly if not Now. There is also an upward price channel that has formed starting around mid January and it looks like the current price action is pushing UP through the middle of the channel.
Parabolic SAR is indicating a bullish move as well.
The RSI is interesting because it has been positively diverging since the crash in Novemeber. This is a strong signal and it’s clear that it picked back up where it left off after the dip resulting from the formation of the cup’s handle.
- Buy on strong push through the $10.10 level.
- Look for resistance around the upper boundary of the price channel near $11 bucks
- Stop loss, of course
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