PBL unknown

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  1. 873 Posts.
    I would be interested to hear any views on PBL -particularly from any chartists out there. Looks due for a further retracement - the RSI was over 80 a couple of days ago.
    With cross-media ownership laws about to be defeated in the Senate there might be further impetus for further fall - particularly if the recent rise was in any way due to an expectation they might it might get through. MACD seems to indicate a further fall, but I am only a rank amateur at charts.
    The stock seems to be very cyclical - and at such high P/E I can't see it holding much over $10 - unless there are some big plays like a T/O of BIR or something like that in the wings. I am short.


    Thanks
 
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