SNI made a great breakout after its retrace to the 0.5fib and the 200MA (black line).
We just got rejected at overhead resistance and I’m waiting for a retest of previous support around NOK 123-125,- AND the 50MA (blue line) before looking at an entry around the area I’ve marked with a green circle.
SNI is nearing the end of it's triangle, so now let's see which way it will break.
Recently it seems to be forming support on the purple support area, but we simply need to wait for a break out above (or below) the triangle.
CHXEUR:SNIO
Stolt-Nielsen is in an uptrend, and it just hit bottom. There is a decent profit potential, to little risk, if you have a target at 145 and a stop loss at 110. It is a slow moving stock, and the low volatility should mean, that you don't get to experience any unwanted surprises.
