Afternoon Traders
Added some Iomart today to existing position (posted last week about initial opening position):
*Solid trading update today ahead of full year results which should be above market consenus
*In the Software and Computer Service's Sector, up 33% since August 2011. Part of Cloud Computing Services (next big thing amongst all those corporate co's and their IT services so a "hot sector")
*PE typically high for a company in this sector around 47
*Lovely uptrend since August 2011
*Chart shows a marked breather last few days with a Hammer on 14/03/2012, marking out a bottom for now?
*Stochs/RSI have turned up, ADX 31 so a strong trend in place
*ATR increasing suggesting bulls regaining the power
KullyB