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Friday, January 12, 2007

PPK - Plaspak Group (ASX)

PPK is a stock preparing to recover from 5 years of steady selling. PPK has finally broken its long term descending trend line and has consolidated above the 200 DMA, a bullish sign. Couple this with rising lows, 7 months of tight consolidating and a spike in trading activity the scene has been set for a strong rally on a break of $0.785 for an initial target of $0.88 - $0.92 and resistance.