Ivory_Wolf

Potential outside week and bullish potential for SGC

Long
Ivory_Wolf Updated   
ASX:SGC   SACGASCO LIMITED
Detected in the latest scan for the week ended 24-Nov (detailed commentary and full scan results available in the signature below), SGC represents a potential bullish opportunity should momentum continue and newer highs be made past the current position. As described in the analyses of the week, a recent outside week potential has been detected, as well as a key reversal bottom (albeit on low volume) on 23-Nov, which adds further impetus to this potential trade. Stop loss for the trade would be below the recent lows of the trading channel (i.e.: below the low of $0.005).
Comment:
As noted in the latest weekly video update for the week ended 01-Dec, trade not activated for this stock as yet since overhead area of resistance had not been surpassed from a momentum perspective.
Trade active:
As noted in the latest weekly video update for the week ended 08-Dec, trade activated 04-Dec with clearance / breakout above the recent high (shall move to trade to further bullish potential for further tracking for future weekly video updates).
Trade active:
Further update provided in the latest weekly video update for the week ended 15-Dec.
Trade active:
Further update provided in the latest weekly video update for the week ended 22-Dec.
Trade active:
Further update provided in the latest weekly video update for the week ended 29-Dec, with specific note of interesting up-turn in share price action on Friday 29-Dec above the 10 and 30 day moving averages.
Trade active:
Further update provided in the latest weekly video update for the week ended 05-Jan, with note that potential breakout in progress above resistance of $0.013 from 08-Jun-2023 with suggestion to raise stop-loss to beneath recent swing low of $0.009.
Trade active:
Further update provided in the latest weekly video update for the week ended 12-Jan.
Trade active:
Further update provided in the latest weekly video update for the week ended 19-Jan.
Trade active:
As noted in the latest video update for the week ended 26-Jan, share price has now closed below 10 and 30 day MA's - caution warranted, considering support level of $0.009 from 27-Dec still respected (suggested close-out should support not hold).
Trade active:
As noted in the latest weekly video update for the week ended 02-Feb, share price has once again closed above the 10 and 30 day MA's, demonstrating trader strength during the week.
Trade active:
As noted in the latest video update for the week ended 09-Feb, share price has now closed below 10 and 30 day MA's yet again - caution warranted, considering support level of $0.009 from 27-Dec still respected (suggested close-out should support not hold - some shareholders may now be utilising $0.01 as a support level considering the swing-up on 06-Feb).
Trade active:
Further update provided in the latest weekly video update for the week ended 16-Feb, with specific note that swing up in the daily charts was noted once again - suggest raising stop-loss to under the $0.01 level if not already done so.
Trade active:
Further update provided in the latest weekly video update for the week ended 23-Feb.

View latest weekly video updates:
- www.youtube.com/watch?v=DSRm9KqVd4I (Stocks and bonds - latest scans timestamped in comments)
- www.youtube.com/watch?v=SD0-eMmuta0 (Crypto review)

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