Tuesday, November 08, 2011 1:52:12 PM
SIOR - Revisited
Poor little Superior Oil & Gas. Seems their wells aren't quite producing what they'd hoped they would. Nevertheless, the company seems determined to forge on.
A classic tug of war between the bulls and the bears has ensued since a recent breakout, now manifesting as a textbook perfect rectangle, promising to break out in one direction or the other.
How to play it? Wait for an upside breakout on high volume. If it's a big one, you may consider waiting for the inevitable pullback to support (that which is now resistance) and a subsequent bounce on volume to confirm the trend.
Poor little Superior Oil & Gas. Seems their wells aren't quite producing what they'd hoped they would. Nevertheless, the company seems determined to forge on.
A classic tug of war between the bulls and the bears has ensued since a recent breakout, now manifesting as a textbook perfect rectangle, promising to break out in one direction or the other.
How to play it? Wait for an upside breakout on high volume. If it's a big one, you may consider waiting for the inevitable pullback to support (that which is now resistance) and a subsequent bounce on volume to confirm the trend.
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