Profile:
SatCon Technology Corporation engages in the development, manufacture, and marketing of electronics and motors for the alternative energy, hybrid-electric vehicles, grid support, electronics, defense and aerospace, and power technology markets worldwide. It operates in three segments: Power Systems, Electronics, and Applied Technology.
Website: http://www.satcon.com
This is another Alternative Energy Play.
Short Term Analysis:
SATC has been riding a bullish trend since December. Making new relative highs, and following them by a short consolidation period. Right now, SATC is trading a small range between $2.6 and $3.0, with volume decreasing but still above average.
Short Term Chart:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=19998;image)
Mid Term Analysis:
What we need on this time frame is to identify a reasonable target in case our plan is correct. We see $4.30 as the high of 2003's rally, and that is our current objective on this trade.
Mid Term Chart:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=19999;image)
Long Term Analysis:
SATC has performed an ugly bear market from 2000 to 2003, dropping from prices above $40 in 2000 to a low of $0.36 in 2003. The reversal move was so fast that in a few months after the lowest price, SATC made the actual relative high since then at $4.30.
Long Term Chart:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=20000;image)
We are buying SATC during what we think it's a short term consolidation period, the stock is inside a hot sector, and we expect it to breakout $3.00 at any moment, and that would be a strong short term signal (but we are buying before that).
Our Plan:
We'll buy SATC today at or near the open.
Best regards !
.
SATC is still consolidating below $3.00. Volume has increased yesterday, and we expect a new breakout at any moment.
We'll not set any stop price yet, so the plan is just to Hold SATC for now.
Best regards,
I bought some of this stock today at 2.78. It came back up to close at 2.86.
Leaira
The main reason why we bought SATC is because we expect a breakout, followed by a fast move above 3$++, the stock is consolidating on a tiny range, volume is not high but that's normal in this short term scenario.
We must wait to see this trade developing, but meanwhile we should place a stop to assure risk management here, so the new plan is:
Hold SATC with a stop @ $2.55
Best regards,
I got stopped out of this one today at 2.60, for a 6.5% loss.
Leaira
Same here Leaira, stopped out at 2.65 :(
I'm liking SATC chart here. A nice rounding bottom with a mini ascending triangle breakout today.
Many of the alternative energy stocks have been doing well lately, but SATC caught my eye today ;D
Bought SATC at 1.27. Finished nicely even in a sharply down market.
Has some hurdles(resistance) to over-come...but the trend is up. Time to start climbing those step. :D
not too shabby
Climbing those steps.
News today ;D
Quote from: kslifka on November 30, 2006, 10:04:58 AM
Climbing those steps.
News today ;D
Kslifka,
I see someone else has got their eyes glued to the market... :D
I just ran an update to the thread on this pick over on
The Stock Picking Board.
Applaud the Eagle Eye....... ;)
One for the radar. Good volume on the breakout.