SCI is a low priced stock so this makes it easier for those with smaller accounts to trade.
Yesterday saw price break out from the recent pullback. Although price only marginally cleared the recent pivot high it was a bullish bar with higher volume. This pullback looks a little deep but was in fact quite within an acceptable level.
Since breaking though and retesting the 2013 high (at around $20) the uptrend has become more linear. Initially the 50sma was being used as support but now price momentum is much stronger. It is still early days for this trend and, with earnings due to be released on 29th April, it may be worth holding off making a decision on this stock just yet.
Yesterday saw price break out from the recent pullback. Although price only marginally cleared the recent pivot high it was a bullish bar with higher volume. This pullback looks a little deep but was in fact quite within an acceptable level.
Since breaking though and retesting the 2013 high (at around $20) the uptrend has become more linear. Initially the 50sma was being used as support but now price momentum is much stronger. It is still early days for this trend and, with earnings due to be released on 29th April, it may be worth holding off making a decision on this stock just yet.