SEE has one of the harder tops to identify before the collapse called a Sheer Cliff. The rounding price action occurs because larger lots are carefully selling into rising prices. The Sheer Cliff occurs when buyers disappear. The stock is holding at the gap up support level.
This 120m chart of SEE is showing what appears to be an ongoing impulsive rally off the October 2018 low. Price bounced from the $30 level to $38 in Wave 1 before a sharp retracement in Wave 2. A parallel trend channel formed by connecting the swing points was broken in February on strong momentum, signaling that the stock may be in an extended Wave 3 move higher....
I not a pessimist, I'm realist and opportunistic. And the reality is that the Dow and others indexes are dropping.
Traders make money in bull and bear markets without make predictions. Adaptability for the change is the key.
Technical Concept: Support becomes Resistance (Resistance=Red Arrows) (Support=Blue Arrows)
First look how the price broke the support...
Momentum was weak since mid 2016. Recent strong sell-out after rising to the previous support line at 42.00.
Even though there is a strong resistence line at about 39.20, a break would provide hugh space for a drop.
The entry is relatively aggressive, but a targetable chance-risk-ratio of about 2 is for the first target is quite good and will likely be hit even...
I use my CoCo Volume Indicator here to show independent volume action on this stock. The volume used on the first arrow uptrend was sold off at the second arrow downtrend. Now look at all that volume going into the uptrend at the third arrow... that volume hasn't left the building yet... a good place for a buy at the first sign of breaking up from the wedge!
SEE is a stock which hasn't been on my watchlist before. Earlier this year it broke the 1998 high - having been in a long and deep range since then.
It has only been trading above $35 for a couple of months so it is too early to see what type of trend is developing, but so far it looks to be entering a new phase. It is now trading above $40, so has cleared the...
Price formed a pin bar with declining volume. With a close below 36.34 would be a good point to sell.
Also, this stocks PE is 46.82 while the sectors is between 18-21
Sealed Air Corporation is engaged in food safety and security, facility hygiene and product protection business. The Company's segments are Food Care (includes Corporate, Medical Applications and New Ventures businesses), Product Care and Corporate. The Food Care segment focuses on providing a range of integrated system solutions. The Food Care business serves primarily perishable food and beverage processors, predominately in fresh red meat, smoked and processed meats, beverages, poultry and dairy (solids and liquids) markets throughout the world. The Product Care segment provides customers with a range of Product Care solutions to meet cushioning, void fill, surface protection, retail display, containment and dunnage needs.
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SEE
