PFMT BullAll of the relevant fibonacci lines and circles are included on the chart.
Am expecting support at the 4.236 fib circle and an eventual breakout, if all continues to plan, of the head and shoulders pattern to the upside.
PFMT trade ideas
Buy the dipBought it at 2.07 on Thursday for breakout.
Had a target of 3, however it still looks strong.
It has consolidated to 2.55, seems like a great dip buy price.
Real support is 2.
It may redraw down to support, before going higher, you can choose whether you would prefer to ride it out, or cash out, maybe it would be beneficial to wait, as it did just hit a 2 year high and was rejected... Though it could again shoot up to 3.2 if not 4 in the coming days. I did realize a gain at $3, on part of my position.
Fundamentally looks good, the past two quarters the company finally turned a profit. The price to revenue etc, looks very undervalued for the current bloated market.
Price to Revenue Ratio (TTM)
0.8074
Price to Book (FY)
2.9221
Price to Sales (FY)
0.7816
In most companies I look at Price to revenue is 10x now, so this is very low. Meaning way undervalue. This looks like a strong hold until they report a quarterly loss again...
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
My planAs I am new to this stock market, I am learning as I go along. As I keep learning the stock market, I am learning that I need to make my own rules to follow from the past data I see and the news that the company news that I see.
If anyone can shed some enlightenment on me, please feel free to share it with me. I am here to learn and make a little money for a little rainy day.
Thank you
Performant Announces Recently Launched Medicare Advantage OfferiPFMT: Performant Financial Corporation
2020-10-23 08:00:00
Performant Announces Recently Launched Medicare Advantage Offering Exceeds Four Million Contracted Lives
$PFMT our 3rd day in this penny stock...moving fastthis is picking up steam and buyers off the trend low
