Carclo (290p) - Breaking Out?

Carclo looks to be breaking out from its downtrend over the past three days (see graph below)...

From the TA point of view, bullish points are:

• Strong OBV
• Buy signals on Stochastic & MACD indicators
• RSI picking up nicely
• Closed above the 200 day moving average

Elsewhere, positive news includes:

• Recent RNS (12th August 2011) very positive re. CIT expected to be ready at end of September
• Microsoft getting interested (presentation: 19th September 2011)!
• Positive AGM Statement (16th September 2011)

Worth taking a closer look?

Let us know what you think!