Keep an eye on this stock.
Below my analysis:
1. Price close to all time low - (see monthly support)
2. Potential formation of a bullish false breakdown on the weekly - MACD and OBV positive divergences
3. Tail on the daily
4. POCs of past days is higher and has not been cleared
5. Too early to go long. IS is red on all time frames
A considerable move...
NYSE:SLCAOn the Weekly Chart:
- W in Willy, and crossing from oversold
- W in OBV
- Weekly W from May 2019
- There is a larger W from Oct 2019, that will be confirmed if price reaches 18.08
- Confirmation of this larger weekly W, would bring price up into the RLZ starting at 24.82
- Low risk trade: only risk to bottom of previous lows
This is a long term...
I bought this stock for various reasons. First the stock has seen pressure since reaching its recent high of $18.72 on April 23rd. Last week it got close to touching its 52 week low of $9.30. This was a point of buying interest for me as I believe the stock was oversold and is due for another run in the right direction. The stock was selling off and riding along...
RSI shows oversold.
VI shows a reoccurring peak for oversold conditions, and they have been progressively shorter intervals..
MACD shows weakness, however we've seen this before.
Earning coming out today may make or break it, but they haven't been a great indicator of movement the past two earnings.
Fingers crossed for 18 soon?
Speculation, not trade advice....
The chart speaks for itself. Just bounced on a support support near all time lows, while the business itself is still performing stellar.
Indicators looking good; small bounce from this point looks good, etc.
Some beautiful trades possible from this point.
Also! Definitely check out my two posts on the DAX index here below.
Finally worked off that last quarter's earnings abortion. Whole oil complex of stocks gonna play catch up to oil in the mid-high 60s even if crude just grinds there a little while. 70 seems more like psychological resistance than anything, it'll break in time.
Simple trade Idea.
SLCA has been on the upward trend and has broken above its 200day MA on the weekly chart.
They have also been reported to ramp up production in 2018.
Play this from the long side with a projection to the 47 area.
of course another week of strong performance would validate trend. I could see a pull back to the 200 day MA happening. if that...