Technical Summary: We always like looking at the PGW chart as perhaps more than any company in New Zealand you can see visualised on the chart the normal bid and ask spread for the stock. This spread is often the trading range for the day. If nothing else this suggests that one should use limit orders when buying the stock. We would caution at the current juncture however against buying the stock for technical reasons. This is despite the recent gap and strength above the 50 day moving average. The reason for
this is that the stocks large price movement are currently being dictated by corporate actions as the company looks to divest some of its assets. In these situations the technical picture can change pretty quickly as corporate actions get priced in quite quickly.