Bullish on Pason Systems Inc.

Pason Systems PSI-T rallied from $4.74 in October 2020 to $17.12 in April 2022 (A-B) and then settled in a wide horizontal trading range mostly between $11 and $17 (dashed lines). The recent advance above the top of this range signaled a breakout (C); a sustained rise above $17.50-18.00 would confirm it.
Behaviour indicators including the rising 40-week Moving Average (40wMA) confirm the bullish status. There is good support near $16; only a sustained decline below this level would cancel the current upside potential.
Point & Figure measurements provide targets of $20 and $23. Higher targets are visible.
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com