What is Happening to the Share Price of Prophecy International Holdings Ltd?

What is Happening to the Share Price of Prophecy International Holdings Ltd?

What does Prophecy International Holdings Ltd do?

Prophecy International Holdings Ltd [ASX:PRO] provides business software solutions. Their core product, basis2, is a technologically advanced billing and customer information system for the world wide utilities industry, improving operational efficiencies, enhancing customer acquisition and reducing the costs of serving customers.

Another of their products, SNARE, an event log management software, is delivering strong results in sales and the company is expecting this to continue into FY 2016.

That’s interesting, but what is the chart telling you now?

What is the chart telling you?

I personally find it helpful to bring up a chart. Here’s the weekly chart of PRO:

Prophecy International

Source: STEX

The stock was up in today’s trading, making a high of $1.46 at the time of writing. For all of 2015, the stock has not had more than one week down. Exceedingly bullish.

What now for PRO shares?

In late January the company announced to the market record half year results. We could expect the full year results likewise to be positive; in fact the market forecast that months ago.

The company is continuing to build its US sales and distribution team and predicting strong growth to continue into FY 2016, and the chart is giving some credibility to that prediction.

Start to read the charts to give you some indication of future announcements. Go here to find out more.

Terence Duffy,

Research Analyst, Cycles, Trends and Forecasts

Join Markets and Money on Google+

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