SE has been on an absolute tear over the past year or so, trading in quite a tight uptrend channel as shown in the chart. I would be inclined to add whenever it trades in the bottom on the channel, as it has always found good support and bounced off the channel lows.
Not much to say on the company, Sea has really been killing it in the South East Asian market and has recently been pushing for growth in South America. Both regions showing strong population and Purchasing Power growth.
I am in this name for the long term. If you aren't yet and are looking for entry, wait for a pullback hopefully to the mid-channel / lower half, where I will be adding to my position with you ;)
Any thoughts? (*This is not financial advice, for sake of discussion and illustrative purposes only*)
Comment
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SE has quite aggressively reclaimed the channel, will be interesting to see if this continues
Hi 220 is a good entry point ? Or do u see it falls much lower
InvestEmi
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@talentadvisormadhan, Hi, if we look at SE's daily chart, we can see it usually finds strong support on the 20-day and 50-day Moving Averages. It hasn't actually dropped below it's 50-day since March.
In the absence of some general market pullback, I can't really see it retracing further than $220, so it would indeed be a great entry point in my opinion
btctraderpro
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Monthly RSI is almost 98. SE tends to fall at least twice in long-term.
InvestEmi
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@btctraderpro, Thanks for the input! I see your point. I would indeed be waiting for a significant pullback before adding at these levels.
Do note that SE's monthly chart has sported an RSI over above 90 (!) for almost a whole year now. One will have missed out on +200% if based solely on the Monthly RSI.
btctraderpro
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@InvestEmi, yep, it still can continue updating highs. But there is also divergence on MACD/RSI/Force index on large timeframes.
I'm watching at this stock since summer and still waiting the point to open short. So much here depending on NASDAQ index