PAINTCOM Plc Sentiment Analysis Report - W/E May 04, 2012
Sunday, May 06, 2012/ Proshare Research
PAINTCOM Plc experienced improved positive sentiments and moderate buying in the concluded week to record 12.6% gain as against 4.8% gain recorded in the previous week- an improved positive sentiments and sustained bargain posture observed as the stock hits year high.
This stock’s position appeared bullish in short term but remained neutral in mid-long term as displayed by price moving average. Through the money flow index formula, there is continued flow of money into the stock as the accumulation maintains northward trend, precipitated by moderate growth in bullish volume.
In addition, there is moderate possibility for the stock to extend the uptrend as the chances of sharp price move increases, considering the prolonged contraction in the Bollinger bands (narrow bands), suggesting possible price volatility in the coming periods.
Technical conclusion on sentiments: The stock has moderate possibility to sustain price uptrend as suggested by Bollinger bands while the growing bargain tendency forces this further.
The Bollinger band has been in narrow position for four sessions, indicating possible sharp price move in the coming periods. However, the price reversal is not in doubt as RSI fortifies the overbought posture of the stocks. The chart below shows MACD, candlestick, RSI and volume analysis.
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