PAR Technology PAR-N declined from $90.30 in March 2021 to $20.37 in November 2022 while trading below a falling trendline (dotted line) and the falling 40-week Moving Average (40wMA), then stayed below resistance near $46 for about two years (shaded area). The recent rise above this level signaled a breakout and the start of a new uptrend (C).
Behaviour indicators including the rising 40wMA and the rising trendline (solid line) confirm the bullish status. There is good support near $47; only a sustained decline below this level would be negative.
Point & Figure measurements provide targets of $59 and $64. Higher targets are visible.
stock
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com