Why am I so adamant about $PWDY being such an elite setup? And I mean that compared to all of the OTCSET, not just your run of the mill OTC. OTCs have the odds stacked against them to such an insane degree that seeing an OTC with at least 10 years of trading history and NEVER having been in a long term downtrend is unheard of in my book. Prove me wrong, find another example of it.
The stock must be an OTC with it's primary listing being on the OTC, so not an ADR or F stock, ie foreign listing. The stock must have at least 10 years of trading history. The stock must have put in a steady stream of higher highs and higher lows. All of the other otcset, including what I believe are the strongest examples of the pattern, have all formed out of downtrends at some point. The reason an otcset is so strong is because the downtrend has been so far removed and there's now a 10 year bullish base, but go back far enough and almost all OTCs have skeletons in their closets and you can see that on their long term price/volume history.
$PWDY is the exception. Somehow, someway these guys managed to keep the underlying business going and very quietly not just maintaining their long term price floor levels, but steadily pushing them higher too.
Kudos to any OTC and management who can manage to avoid/steer their way out of long term death spirals, but $PWDY wins the award because it's never been in one and now has a 10+ year base of subtle higher lows and higher highs, which in the stock market is a textbook representation for a runway.
Your average OTC won't appreciate this or even know what they're looking at. They just see a stock that's gone up and down over the years and hasn't really done anything too spectacular. I'm telling you now, there's a reason why you don't see this in the OTC. I'm not even really sure what these guys are doing differently other than seemingly taking the long and slow way of doing things. I don't think there's a better example of what I look for.
