Buy Signal from MACD Indicator Even More Pronounced
The Australian water treatment technology developer Parkway Corporate (ASX: PWN: FRA: 4IP) has used the momentum shown in the chart check from February 3 and has finally overcome the price cap of 0.013 Australian dollars that had been in place since October, with the fourth-highest trading volume in the last six months.
The moving averages continue to rise – as recently shown. In addition, the medium-term technical buy signal created by the 100-day line crossing above the 200-day line remains valid.
In the MACD, the blue line moved increasingly upward away from the red line, intensifying the buy signal from the end of the year. The trend confirmer continues to rise in positive territory above 100, and the Chaikin Money Flow consistently signals the inflow of capital into the stock through its course in the green zone.
One could suspect that the technical analysis is anticipating a real development here. Because it looks like important news for Parkway Corporate is expected this month:
Parkway Corporate: Important Update for the CSG Industry in Queensland to Follow in February
We are definitely very excited to see how things progress here!
