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Conviction Report - Party Gaming

Party Gaming has been building a base of late, forming a short term uptrend support line, and looks like it might be worth buying at these levels as we're close to this line. The initial target is 125, the 38.2% retrace of the May-June weakness. Above here 136 is possible. 

A stop should be placed either below the uptrend line, i.e. below 114.50, or preferably below 112, the recent higher low.

We Note that the company will report key performance indicators for Q2 on Friday 21st of July  

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