Bullish technicals coinciding with good news
The subtle and creeping uptick trend continued today in this very congested technical area of the one year and three year charts of PLI. The 10day MAV continued its upward creep (1.44 ), towards the 50 day MAV at 1.47. The $1.48 close today above the 50 day MAV is small but significant and continues to suggest net underlying buying interest, and likely some further short covering. A clear break above $1.47 on good volume along with the 10day MAV passing up thru the 50 will be a buy signal back up to the $1.67 area and the 90 day MAV.... above that its GAP time
I know the shorts want to keep everyone's focus on the Balance Sheet, but long term investors and industry are looking at the IP value build and risk reduction that came with this 4050 Alstrom efficacy, which was nothing short of fantastic. Smart money is watching and accumulating, and thats only going to ramp up further as FDA systematically continues to support PLI and is novel platform.
PLI has SEVEN MONTHS of CASH
people will look back on all this hysteria and realize it was a great opportunity to either initiate or add to this story. Ignore the noise