A friend of mine brought this to my attention the day before the stock gapped up from the mid $3.50's upto the high $5's. SGH started to move again on Monday 5/23/05 when I got in at $3.20.
What are the odds of SGH moving back above $4 or $5 in the short term?
Heavy resistance at $4 area, wa a true momo play on the run to $5. Take a look at SGU as well, same compny different ticker and the stcks trade different directions from each other. Again SGU has resistance around $4, but behind that a gap from 2 red candles up to $7. If vol comes back it might be interesting.
Mike
Quote from: ssubirias3 on May 27, 2005, 03:06:42 AM
A friend of mine brought this to my attention the day before the stock gapped up from the mid $3.50's upto the high $5's. SGH started to move again on Monday 5/23/05 when I got in at $3.20.
What are the odds of SGH moving back above $4 or $5 in the short term?
Maybe Ramsburg could make a comment on this one, he traded this stock during the first move:
http://www.3stocksonfire.org/trading/index.php?topic=33.0
For me, I don't like second tryout movements... but I'd appreciate other opinions. (Aussie, good point on the $4 resist)
hum... :-X
just sold @ $5.47 a few weeks ago, and then deleted SGH from my watch list... which is one of the things I do after a fast profit ride... ;)
I'm not sure, and I don't have a strong opinion right now... the chart is not so nice has it was during the white candles ride...
Watch for an ascending support near $3... watch for a resistance near $4... but... there are 11.000 other shares with stronger patterns right now... ;)