Sangoma Technologies Re-Testing Its 2020 Breakout: Technically Speaking by Dwight Galusha

Sangoma Technologies Corporation (TSXV:STC) is also showing positive divergence on the PPO momentum indicator

Dwight Galusha | August 5, 2021 | SmallCapPower: Sangoma Technologies Corporation (TSXV:STC) has come back to retest the 2020 breakout in the form of a giant falling wedge continuation pattern while showing positive divergence on the PPO momentum indicator. Watch for a breakout above the upper trendline of the pattern as it would suggest a continuation of the uptrend. A suggested protective stop-loss order could be placed right below the most recent price label of 2.65.

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Sangoma Technologies, a Canadian company founded in 1984, provides cloud-based and on-site communications products and services. An example of this would be cloud-hosted phone systems for smaller business and contact centers.

Sangoma has some big-name clients, including Domino’s, Spotify, and AT&T, yet no individual customer represents more than 10% of the Company’s sales.

STC recently provided a Fiscal 2021 update, saying it expect its sales for the year to be approximately $167 million and its EBITDA to exceed $30 million.

Dwight Galusha is a Chartered Market Technician (CMT) whose work can be found at www.SetYourStop.com

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