OTCQX:SREMF - Post by User
Post by
TAPickson Feb 07, 2011 7:47am
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Post# 18085420
Oversold and ready?
Oversold and ready?Another one that's oversold and appears ready for a turn around. It has returned to it lower trend line from a nice run to $2.23 with a close of $1.41 on Friday, which is more than I would have liked to have seen as a pull back after that run. What we may be seeing developping is a slanted Head and Shoulders formation with the top of the right shoulder at $1.80 (top trend line high). So as such, I'm not quite ready to put a high target past that for now. Entry at $1.41 or pehaps a little lower if you can get it, with a stop loss just below Friday's candle, say at $1.30. First target for now is $1.80 for gains of 27.6%. Once it reaches that target, we can re-evaluate the position and decide if its good for another 20% or not depending on the indicators.
See chart here
https://us1.campaign-archive2.com/?u=4d6d491aea8e01d93d8a1f390&id=710abcf5e8#CLQ
Cheers!