Thursday, March 08, 2012 9:29:11 AM
SIOR Support level @ .008
I've been watching this stock ever since it put in a high mid January so that I can play the retrace to the low. It is currently at a nice level of 1 cent which is also a 75 retrace from the high of right above .032 to the .004 low.
Since penny stocks are thinly traded and often overshoot, I am looking lower for entry at .008 which was the breakpoint for the January rally. By the time SIOR gets down there, the 200 DMA, which is currently at .007, should coincide with that level for a beautiful 2 factor support level.
Good luck gentlemen, I'll be on board once SIOR gets down there.
I've been watching this stock ever since it put in a high mid January so that I can play the retrace to the low. It is currently at a nice level of 1 cent which is also a 75 retrace from the high of right above .032 to the .004 low.
Since penny stocks are thinly traded and often overshoot, I am looking lower for entry at .008 which was the breakpoint for the January rally. By the time SIOR gets down there, the 200 DMA, which is currently at .007, should coincide with that level for a beautiful 2 factor support level.
Good luck gentlemen, I'll be on board once SIOR gets down there.
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
