Is this the final push in SID? Can it push higher?
Reaching previous medium level cycle high of 4.15
Also a Higher level cycle low back in late 2015 of $1
Above 34M ma
Previous higher level cycle high of around $25
Short-term target of 4.15
Long-term target of 25
Fundamentals:
P/E 13.45
Current Ratio 2.20
EPS projected NY growth 181%
Optimism: less than 2% short interest
Positive news building on the way up
Steel producer out of Brazil; construction and the IMP Manufacture's Index is up. DOW is up.
Wide range of products
Down Sides:
Longer than average correction that put RSI into bearish levels.
Trend is slightly reducing its angle.
The average true range increased on the correction
Volume built on the correction.
All the above considered, I was in at 2.80 and I'm staying until 4.10.
Also a Higher level cycle low back in late 2015 of $1
Above 34M ma
Previous higher level cycle high of around $25
Short-term target of 4.15
Long-term target of 25
Fundamentals:
P/E 13.45
Current Ratio 2.20
EPS projected NY growth 181%
Optimism: less than 2% short interest
Positive news building on the way up
Steel producer out of Brazil; construction and the IMP Manufacture's Index is up. DOW is up.
Wide range of products
Down Sides:
Longer than average correction that put RSI into bearish levels.
Trend is slightly reducing its angle.
The average true range increased on the correction
Volume built on the correction.
All the above considered, I was in at 2.80 and I'm staying until 4.10.
Comment:
I'll probably be holding this over 4th quarter, as long as the industry stays strong with good sentiment.