WidePoint Corporation, Inc. (NYSE:WYY) Could Make the Breakout This Week

[[tagnumber 0]]WidePoint Corporation, Inc. (NYSE:WYY) stock got a bullish chart pattern this week after surging across the moving averages in five consecutive trading sessions. Technically, there is more upside potential, though that seems to be only on the short–term.[[tagnumber 1]] [[tagnumber 0]][[tagnumber 3]][[tagnumber 1]] [[tagnumber 0]]WYY closed the last trading session at $1.95 for a share and a gain from the previous close of 2.63%. The trading volume started to grow again and the share price is now very close to the upper Bollinger band. Technical indicators on WYY chart suggest it could break that resistance and possibly hit a new six–month high.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]A the end of June, the company announced a partnership with Samsung after the shares had slumped through major support levels, yet is not known for how long the trading interest for the stock will hold. According to the press release, the partnership would allow WidePoint Certificate–on–Device digital certificates for use on Samsung Galaxy S devices. Also, Samsung CellWe Enterprise Mobility Management solution would be integrated with WidePoints ITMS Telecom Lifecycle Management System.[[tagnumber 10]][[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]Any direct effect on WYY sales from that deal is yet not clear, and although the company announced a significant growth in sales in the first quarter, its operational and net income have not improved. WYY is still not making profits and its operating and investing cash flows stay negative.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]On a long–term perspective, it seems like the company cannot grow with the current business model. It is based on a Managed Mobility Solutions (MMS) offering which is a portfolio of various mobile solutions and products that obviously are unable to create value for shareholders.[[tagnumber 1]] [[tagnumber 20]] [[tagnumber 1]]