Quick Win By The Algorithm

On September 24th, 2017, I Know First issued a bullish 3 day forecast for Preformed Line Products Company (NASDAQ: PLPC). The forecast showed a signal of 28.66 and a predictability of 0.12. In accordance with the forecast, PLPC’s stock returned 10.78% over this period, solidifying another quick win by the I Know First algorithm.

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems used in the construction and maintenance of overhead and underground networks for the energy, telecommunication, cable operator, information, and other industries worldwide.  Preformed Line Products Company serves public and private energy utilities, communication companies, cable operators, governmental agencies, contractors and subcontractors, distributors, and value-added resellers. The company markets its products through a direct sales force, as well as through manufacturing representatives. Preformed Line Products Company was founded in 1947 and is headquartered in Mayfield Village, Ohio.

Performed Line Products Company experienced a steady surge upwards from Monday September 25th through Wednesday September 27th.  There was no significant company news giving reason for this pop, but it could be a result of increased insider confidence in the company.  This is due to the fact that Steven R Kestner and Michael E Gibbons, both Directors in the company, purchased shares on September 26th.  Nearly 60% of PLPC’s shares are held by insiders, further illustrating the firm’s own confidence in their future.

This jump in the price could also be the result of positive momentum in the stock.  PLPC was hitting its 52 week high.  When this happens, bullish investors sometimes latch onto that momentum and push the price higher.

Current I Know First subscribers received this bullish PLPC forecast on September 24th, 2017. 

Disclaimer

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.