The chart pattern is showing a "cup n handle", go long if we can breakout of this resistance $10. More on cup n handle pattern. www.investopedia.com
My trading Bias for SCG is Bullish as it has clearly bounced off the lows (Support), with a decisive break and close above the Bearish Trendline coupled with very High Volume . MACD has given a Bullish Cross and RSI has come out of the Oversold region. I am expecting a breakout with energy, and expecting a potential 7-8% gain. TP ~ $3.00 - $3.10 Stoploss -...
MACD marginally bullish and ema200 acting as resistance. Several layers of resistance on the way back up. At the beginning of a potential bullish trend, start small and scale in/out as necessary. Watch the layers of resistance as potential targets. Obey your rules