Enghouse Systems Limited (TSX:ENGH) stock movement suggests a continuation of the uptrend
Dwight Galusha | August 10, 2021 | SmallCapPower: Enghouse Systems Limited (TSX:ENGH) is breaking out from a falling wedge continuation pattern and above horizontal resistance. This price action is bullish and suggests a continuation of the uptrend. A suggested protective stop-loss order could be place below the weekly candle.
Enghouse Systems provides enterprise software solutions and has grown through a ‘roll-up’ strategy, typically spending between $20 million to $40 million a year on acquisitions of good-quality software assets at bargain prices, which are used in contact centres, telecommunication networks, transportation systems and for video conferencing.
On July 7, 2021, Enghouse said it has acquired Momindum SAS, a SaaS enterprise video software company.
Dwight Galusha is a Chartered Market Technician (CMT) whose work can be found at www.SetYourStop.com
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