Technical outlook – PPK Group Limited (PPK) potential holds to a rounding bottom.
When talking about a “rounded bottom,” they are viewed as useful reversal patterns that often uncover potential trading opportunities.
A rounding bottom is a chart pattern used in technical analysis and is identified by a series of price movements that graphically form the shape of a “U”.
Combined this with the two leading indicators, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) pattern it is assessed a break over $3.70 should ignite the bull-run to a potential target $5.20-30.
Company Overview – PPK Group Limited (PPK) engages in the investment in publicly listed and privately held businesses, and design, manufacture and distribution of portable underground mining equipment.
PPK operates in Australia and exports its mining equipment to overseas.
The company have three main segments mining segment, investment segment and technology segment. Former Names: Plaspak Group Limited 08/09/2006.