The general shape of the SP graph has been mixed (see below)...
What I have found encouraging is the continued strength of the OBV + the good fundamental case for holding STY. The last RNS (14th November 2011) gave support for the case to hold STY, so what about the shorter term TA picture?
Lets take a look at the past 6 months...
The immediate thing that strikes me is the obvious double-bottom occuring in the last 3 months of 2011. The price action at the end of December was also a clear breakout from the downtrend of the previous few months (marked by the downward sloping blue line). This coupled with the rising OBV and in the past few weeks the clear uptrend in the 50 day moving average (currently supporting the SP), is shouting "buy" to me. I also note that there was a buy signal on both ADX indicators on 22nd December, prior to the last upleg.
Even more strange is the likelihood that with a MCAP (today) of £5.7m, we might find that, when the full year results come out, the net cash within the Company exceeds this figure!
As ever, check this out for yourself and come to your own conclusions!
As for me, I'm content to hold what I have and will look to add more in the next few days.
I'd be interested to hear your views...
Regards, Mick.
