AI
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Sunday, March 15, 2015 12:24:55 PM
Based on your question, I put up my favorite $WMIH chart, the 3-year-daily (actually only 2.5 years to focus on the important things)
As you can see, the green line acts as strong support for the PPS. This support was tested several times (green circles), and the PPS bounced always off. So I think it could be possible that this support line gets tested once again (without M&A news) which would be in the range between $2.15 and $2.20. But in anticipation of M&A news or right before the shareholder meeting, the PPS can easily run to the range between $3.50 and $3.70! The RSI was "reset" this week, and Accum/Dist line is at its all-time high! The MA-50 approached also this support and turned upwards! It may cross the MA-200 in a few weeks! This is called "Golden Cross" (http://www.investopedia.com/terms/g/goldencross.asp) and could also boost the PPS! Very explosive IMO
Chart courtesy of StockCharts.com
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