here is SBE, which is in a very good spot technically talking.
so.. there is the long term trendline, and the MA 200, and the MA 50, and the closing triangle with a flat base which usually stop the rise or fall of the stock, and the base of the triangle which is a support/resistance that worked a few times before, so already used and tested, and something that a lot of traders would use too (at least the ones who have been trading this stock from its rise)
as my previous analysis, the H&S pattern worked but was made to squeeze shorter, which today's +10% made them suffer, and about who's is keeping in to short, tomorrow is gonna get a bit more, as the stock will fall to $37-38, which is IN MY OPINION, the BUY THE DIP here.
here, in the daily chart, we can see the long term trendline held all except one candlestick, and that the MA 50 not far.
the weekly here, also show how the long term trend actually HELD all the candlestick since it has been surpassed.
lastly, I expect the price to reach the ATH in the following TWO (2) weeks, at least 55 or 60.
of course, it is my beliefs, so do not trade only on this, and make your own opinion and strategies
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disclaimer: I do not know about the fundamentals here.
so.. there is the long term trendline, and the MA 200, and the MA 50, and the closing triangle with a flat base which usually stop the rise or fall of the stock, and the base of the triangle which is a support/resistance that worked a few times before, so already used and tested, and something that a lot of traders would use too (at least the ones who have been trading this stock from its rise)
as my previous analysis, the H&S pattern worked but was made to squeeze shorter, which today's +10% made them suffer, and about who's is keeping in to short, tomorrow is gonna get a bit more, as the stock will fall to $37-38, which is IN MY OPINION, the BUY THE DIP here.
lastly, I expect the price to reach the ATH in the following TWO (2) weeks, at least 55 or 60.
of course, it is my beliefs, so do not trade only on this, and make your own opinion and strategies
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-
-
-
-
-
disclaimer: I do not know about the fundamentals here.
Comment:
SBE couldnt break out its ATH, and moved sideways into a flag. as the whole market is bearish (crash or correction, i don't know yet), it got caught too and broke downward the flag. it is not bearish too, do not go long on this now, it is just gambling