PGOLD (Puregold Price Club, Inc.) November 19, 2013 "Potentially found the bottom"

PGOLD (Puregold Price Club, Inc.)
November 19, 2013
"Potentially found the bottom"

PGOLD may have bottomed out today as it forms a Bullish Hammer candlestick pattern, a reversal pattern.

It potentially found a convergence of supports at the following:

1) Five months uptrend support line - a rebound from this level may trigger a retracement towards the recent high near 47/48. However, a breakdown from this level may send the price towards 35.

2) Support provided by the 200 SMA line (around 40).

3) Support around the 61.8% Fibonacci Retracement which historically provided similar support of the previous low at 35.5.

4) S1 = 40.4, the Support 1 of the classic pivot level.

RSI is now at OVERSOLD level.

Analyst/Broker's Ratings
------------------------------
COL:
- Rating = BUY
- TP = 51

HSBC:
- Rating = Overweight
- TP = 55

FT:
- Rating = OUTPERFORM
(5 Buy|1 Outperf|1 Sell)
- TP(low/avg/high) = 34/49/55

MarketWatch:
- Rating = BUY
- Avg TP = 49

Firstmetrosec:
- Rating = HOLD
- TP = 44.6
- Recent earnings result slightly below estimate as margins disappoints. However, a stronger than usual 4Q 2013 may arise from demand for relief goods for typhoon Haiyan victims.

Source: PSE Stocks