Small Cap Software Name Forming Bullish Flag
Pegasystems (PEGA) shares of the small cap software name are rebounding from the rising 55-day MA and now back above its 21 EMA as its looks to rotate up to the top of monthly value area near 71 for a quick rally. PEGA has been coiling in the 60-65 range this summer following a strong earnings report and now could see a continuation move towards 75 into Q4 with a VPOC target up at that level. PEGA saw insider buying back in June from a director who bought $500K in stock near $59/share.