SD: Earnings Play

NYSE:SD   SandRidge Energy, Inc
Here's the crux of the matter: SD reported earnings after the bell today, and there was not much action after the release. The company presentation before the bell could have a big influence over the price action. This could be the catalyst that breaks the price action out of this triangle. There is a powerful set up to the upside here. One could take a long position here with a stop at 1.60. However, SD has not responded well to its' earnings releases as of late so if we see price action slicing through the lower trend-line or gaps below and sells off, watch out because there is not a great deal of support below $1.50


I am a little lost with SD, in @1.40 and not sure wat to do. Any advise?
Ape scamstuffs1
That is a tough spot to be in. From a technical standpoint SD might get a gap fill to 1.32 area. Other then that it is textbook lower lows lower highs. There is no support beyond the previous low, just a lot of resistance ahead. My two cents, unless you have done serious homework on the company, and really believe in the fundamental prospects of the company then I would look for a place to sell. But that's just me. Good Luck to you.
i'd be worried about a flash crash as well
looks bearish to me
Ape 7878max
Agreed. This is what I was looking for. A gap down, and its look out below!
Brilliant. Thanks a lot.