Small Cap Education Tech Growth Name Forms Weekly Bull Wedge
PowerSchool (PWSC) shares of the small cap education tech name continue to show relative strength in the market as it coils in a tight bull flag on the weekly chart and only closed down by 12 cents on Wednesday while the market sank into the close. PWSC has bullish MACD cross in play and staying above its 8-week EMA on the recent minor dip to 22 and now poised to see a breakout above the top of its one-year value area on a close over 24. The 1.272 fib extension measures to a target of 28.67 into early 2024 but a short-term retest of this years highs can seen into 26. Longer term PWSC likely is a winner in a growing education space that can see the stock eventually revisit its former 2021 highs at 36.50. The $4.7B cloud-based software provider of K-12 education also has a short float near 9% that can see breakouts accelerate higher.