Trade Ideas: PNY

PNY appeared three times over the course of 13 minutes while running my scan. The break of $25 looks to be follow through from a small head-and-shoulders pattern. This forms part of a larger 6-month base on the weekly chart. Excellent volume in support. A push to $26 would trigger a point-n-figure double top breakout. Projected target of $34 (for now). Yield of 3.9% is tough to ignore. No apparent news to account for today's action.

Piedmont Natural Gas Company, Inc., an energy services company, distributes natural gas to residential, commercial, and industrial customers in portions of North Carolina, South Carolina, and Tennessee.




If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.

Popular posts from this blog

Nasdaq primed for breakout

S&P "Bull Trap"?

"Black Candlesticks" are a concern for the S&P and Nasdaq

Archive

Show more