Leadup
Before earnings, SACH's price fell about 13%. SACH reported a surprise above expected EPS.
Price Action
After reporting a surprise, price gapped up and began consolidation. Today that consolidation broke upwards with a substantial gap and moved towards its previous highs.
Indicators
Volume Broke 21 MA on the gap.
DI remained bullish, and ADX seems...
Nice base setup around 50 MA. A close above $5.25 should get this going again. Focus list for this week.
Sachem Capital Corp (SACH)- REIT THAT SPECIALIZES IN FUNDING, SERVICING AND MANAGING A PORTFOLIO OF SHORT-TERM LOANS.
Ascending Triangle, waiting for confirmation
Pros:
Descending volume during formaton
Volume Spike at break out
PPS above 50Ma and 200MA
RS above 0 and ascending
R/R above 16, high
Cons:
ATR descending, less volatile
250RSI below 50
200MA descending
If confirmed:
PT = 6,06$
