Bid Oracle

[jedijazz]

Puget Technologies Inc. (OTCQB: PUGE) comes into play with recent acquistions. With the start of the new year, many companies are looking to "trim the fat" by clearing unfavorable debts as they can. Others are trying to bulk up their business by making strategic acquisitions.

The stock has been booming in 2015, coming up from under .02 to the .13 area, but it's been consolidating in the past several trading sessions. Savvy traders here have picked up the dip, and we've already bounced to .08 from under .06. It looks like this could be the formation of a new rally, as the accumulation indicators on the chart are spiking (CMF, Vol+Gains, Acc/Dist+OBV). It's also important to note that the 200MA on the daily chart seems to be the key resistance level to break here. It's currently at .114. A break of the 200MA could bring more momentum to the stock.

From the perspective of looking for catalyst opportunities, it's important to keep in mind that the company is essentially a technology acquisition and commercialization company. They acquire companies and their technologies as they're close to commercialization, and then they strive to make them very profitable. That said, acquisitions are hot topic news pieces in the OTC, and traders generally react well to solid acquisitions. On February 4th, the company announced that they completed their acquisition of a retail travel software company. This catalyst has been part of the reason we've seen such successful price action lately.

More information:
- News: http://www.otcmarkets.com/stock/PUGE/news
- Company website: http://www.pugettechinc.com/
- As of April 30, 2014 there were only 42,520,000 shares outstanding.
From October 31, 2013 to April 30, 2014, the company's assets rose from $13,572 to $131,961, which is an 872% increase.
PUGE Puget Technologies Inc: News, Press Releases for Puget Technologies Inc - OTCMarkets.com
www.otcmarkets.com