Friday, March 09, 2012 8:33:10 PM
Patiently waiting for deep pierce of 200 DMA
I've been watching SIOR since the January rally.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73018532
It looks like a good little company, but like any run in pennies you have the spike where the smart money sells to the suckers at the highs and then a period where bag holders are stopping out day after day until PPS slowly grinds back to where the party started.
I think that there will continue to be some support here at a penny, but looking at the chart, not the kind that will blast it back to the highs. If we get a deep pierce at the 200 DMA support level and a good flush of the weak hands I think this is a very good risk reward play to revisit, if not surpass, the highs.
I've been watching SIOR since the January rally.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=73018532
It looks like a good little company, but like any run in pennies you have the spike where the smart money sells to the suckers at the highs and then a period where bag holders are stopping out day after day until PPS slowly grinds back to where the party started.
I think that there will continue to be some support here at a penny, but looking at the chart, not the kind that will blast it back to the highs. If we get a deep pierce at the 200 DMA support level and a good flush of the weak hands I think this is a very good risk reward play to revisit, if not surpass, the highs.
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