Trade of Day – Bullish Triangle Emerges in Premier Global Services (PGI)

It’s been quite awhile since I’ve posted a trade of the day here .. been a very busy few weeks.  Today, I wanted to bring to you a great opportunity emerging in PGI.  The stock broke out of a 6 month base with near record volume to a new all time high on October 19th and ran up over 20% in just a matter of days.  Since that time, the stock has digested those gains in a very bullish manner, with tight price action and diminishing volume.  It’s carving out a triangle pattern which happens to be one of my favorite patterns and is looking ready to bust out at any time.  It probably just needs the wind of another dead cat bounce rally at its back to get going out of this formation.  Once of the better looking charts out there right now. 

Full Disclosure/Disclaimer: The stock of the day is by no means a buy recommendation.  Please do your own research and make a personal decision based on your own tolerance for risk.  I currently do own a position in Premier (PGI)

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