If there is any possibility of an upswing , the chances of retracemment are great , so it may trade lower first and move up later , so cannot discount the downward swing as well.
im evaluating 'functionally' - which goes a little deeper...
(Buyers): these new breed of buyers knows what to expect.. these are hardcore...
(Sellers): those who sell r either insecure due to previous damage, OR those who could see greater potential in other stocks.. - as many other stocks had dipped recently..
the upswings b4 the 'big deep' earlier took place 'too fast'.. that was all the reasons for that.
at current gradual rate of climb... deep dips r very very unlikely.
Just my 2 sen here. From fundamental point of view. I bet everyone already know that SEAL is a hidden gem. But from technical point of view, as from my understanding in current situation with such a slow volume build up over the week. You can see that "Inside bar" is forming. This indicate that the market sentinel do not know where to go, north or south. As IMO, close above 1.35 is the point that it will trigger a real direction. if it fails to do so and close anywhere below 1.25. then more retracement will be going on.
Of course, by doing fundamental on this counter, I believe no one should fear on any price this counter will be heading. Be happy even more if there is any dip going on. I favor the upside for now.
upsidedown119, dont worry of those contra play, its been a week that this counter trading sideway, and even if there is those T+3 sell off. It wont be a big play on the price. Yes 1.40 is the strongest resistance now, but 1.35 above is the answer for the stock's direction I believe. IMO, closing just above 1.35 for today will be a bless.
Hope it will stay at 135 and above. Failing which the stock may go south for some retracement by forming bigger consolidation prelude to advance higher.
The volumes in queue indicate syndicate play. The recent sell-down was also syndicate play to accumulate SEAL at low price. So be careful of psychological play newbies. Increase your level of pain endurance if they try to sell down again. As Probability said: With SEAL's FA, no need TA!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Probability
14,497 posts
Posted by Probability > 2014-07-16 17:47 | Report Abuse
1.7M penguins slaughtered at iceberg plateau 1.32..
real show RE-STARTS tom! ;)