Technical Analysis on SNDK
By Yaser Anwar, CSC of Equity Investment Ideas
The market has been absolutely brutal of late & Nasdaq is feeling the most pain, but SNDK looks attractive.
The fundamental reasons for being bullish on SNDK are: 1) The growth in demand for SNDK's productives 2) Increasing margins
Technically Speaking: The stock recently formed an ascending triangle, and broke through the bearish side of the triangle. The stock has since moved lower and completed the expected move, $11, after breaking out of the triangle. The RSI is extremely low levels, and support coming up at 48.
http://www.equityinvestmentideas.blogspot.com/
The market has been absolutely brutal of late & Nasdaq is feeling the most pain, but SNDK looks attractive.
The fundamental reasons for being bullish on SNDK are: 1) The growth in demand for SNDK's productives 2) Increasing margins
Technically Speaking: The stock recently formed an ascending triangle, and broke through the bearish side of the triangle. The stock has since moved lower and completed the expected move, $11, after breaking out of the triangle. The RSI is extremely low levels, and support coming up at 48.
http://www.equityinvestmentideas.blogspot.com/
posted by douglas mcintyre at 5:40 AM
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