RE: What's Up???? Just looking at the technical indicators, they are all pointing to a very oversold situation on SGY shares. MACD has diverged to the negative, the RSI is at 14.83 and the money flow index is pointing to oversold conditions.
The stock price is now narrowly trading just over its bottom bollinger band but with increased volatility. Candlestick charts are pointing to a hammer formation today, indicating the selling pressure has eased and possibly exhausting itself.
If there is no major news (as management has indicated, and there is a planned news release for Friday), this stock could rebound into the $4.50 to $5 range early next week. It seems there is something the market is not certain on with SGY and there could possibly be shorts at play on this stock until that uncertainty is resolved.
Risky, but potential trading opportunity to make a few $$$ on the risk/reward ratio here.
Steam