Seeing Machines uptrend continuation
This is my take on the recent events and positive SP movement in recent weeks for Seeing Machines (
SEE
). N.B. I am not a professional trader, or consider myself in any way an export in TA, i have produced this for my own benefit and thought i would share my view.
12p seems to be providing some resistance this week but the SP has consolidated nicely above 10p. The configuration looks positive to retest 12p early next week, with a MACD crossover forming along with RSI trending up but safely outside overbought territory. If it fails to break through 12p it might well continue to consolidate at current levels. Demand and interest is very strong so will not take much in my opinion to move higher. Any positive news flow or press coverage might be all it takes. For full disclosure I am long and hold shares in this stock.
SEE
). N.B. I am not a professional trader, or consider myself in any way an export in TA, i have produced this for my own benefit and thought i would share my view. 12p seems to be providing some resistance this week but the SP has consolidated nicely above 10p. The configuration looks positive to retest 12p early next week, with a MACD crossover forming along with RSI trending up but safely outside overbought territory. If it fails to break through 12p it might well continue to consolidate at current levels. Demand and interest is very strong so will not take much in my opinion to move higher. Any positive news flow or press coverage might be all it takes. For full disclosure I am long and hold shares in this stock.
Comment:
Strong breakout through 12p resistance today. I would expect 12p to offer a new base of support for the next few sessions. We bounced off ~13.4p but rebounded nicely, finishing strong. All indicators point to potentially further upside, although a bit of consolidation is no bad thing.