Bookkeeping: Cutting Back Perfect World (PWRD) for Now
Trader Mark (June 4th, 2008) Writes:
I really like Chinese gaming company Perfect World (PWRD) from a fundamental perspective; after selling off from its guidance after a very good earnings report [May 19: Perfect World - Good Earnings, Light Guidance - Buying the Dip] the stock spent a few days in purgatory before making a nice rebound. However, at this point technically we have some technical resistance ahead, both the 50 and 200 day moving averages lie ahead; the 50 day in the $26s and the 200 day around $27. Honestly this is as perfect of a setup as you could ask for from a technical perspective. Sell now right below resistance areas, and rebuy either (a) on a move over $27 or (b) on a pullback. So I'm executing the first part of that strategy (sell) here around $26.20... then for the second part (buy back), if the stock ...
Tags for this Post:
Bookkeeping, Buyback, consternation, Current Market News, Earnings Report, Earthquake, Fundamental Perspective, Gaming Company, Mid 20s, Motley Fool, Moving Averages, Overhang, Perfect World Pwrd, Personal Position, pullback, Purgatory, Rebound, Resistance Areas, Stake, Stocks to Watch, Technical Perspective, Technical Resistance
Bookkeeping, Buyback, consternation, Current Market News, Earnings Report, Earthquake, Fundamental Perspective, Gaming Company, Mid 20s, Motley Fool, Moving Averages, Overhang, Perfect World Pwrd, Personal Position, pullback, Purgatory, Rebound, Resistance Areas, Stake, Stocks to Watch, Technical Perspective, Technical Resistance


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