Premier Foods (9th December 2013) - Possible Reversal Underway?
Premier Foods (PFD) rose 7p (6.3%) today and in doing so looks as if it may have found support at the 200 day moving average over the past three trading days. Have a look at the graph (below) and see what you think...
As you can see, the RSI is in oversold territory and the OBV remains strong. those of us following PFD could be in for an interesting few weeks. What do you think?
Mick (9th December 2013)
Mick, PFD debt is a worry.....though reducing....it's not fast enough. Selling quite a few brands to reduced debt (probably demanded by banks) meant that they will not be as profitable as before. I think when they do finally announce a right issue the share is bound to fall. I sold my at 179 and 183 in October 13 but is nervous to get back in.
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