Pinnacle Investment Management • January PerformanceSince 2007, Pinnacle Investment Management Group Ltd has managed to close the calendar year above its 200-day moving average on 8 previous occasions. Following this, January was kind to the price performance of PNI, providing an average 1-month gain of 11.26% with a 7 from 8 win rate.
Disclaimer: This data is not financial advice. Data is for educational & informational purposes only & should not be used to make any investment decisions. No representation or warranty is given as to the accuracy or completeness of this information. Past performance is not a guide to future performance & may not be repeated.
PNI trade ideas
Stonks doesn't always go upPNI gives you all the indicators of an overvalued, overbought stock. It has had a crazy month so far but I don't think Pinnacle investment can keep up the trend anymore.
1. The volume is falling rapidly while the stock makes new highs. Not good. The last 5 days volumes are (498.2k, 414.1k, 385.9k, 332.5k, 229.1k). This is from the ASX website.
2. There is a gap up which hasn't been filled.
3. No clear support whatsoever until $12.5 and $10.5.
4. Just look at the RSI !
When stonk god gives you clear signals go with it. This is a massive short opportunity.
Buy PNI Due to oversees market the ASX 200 should be opening higher this morning, this is why i'm looking buy PNI to the upside. There is res at $6.02, if it breaks out that key level that could be a new support level for this stock. With TA it has been rejected at that level twice now so lets see how it goes for the 3rd time, also it has formed a nice trend from the bottom of $4 with higher highs.