SN flag/wedgeAnother flag/wedge.
Maybe it needs couple days to go.
Another thing - earnings report is soon, so for now I'll keep in on my watchlist and see what happens.
SN
SN LongBought half size this afternoon as SN cleared a recent consolidation pivot after gapping up this morning. In a better environment, I'd have bought in full size today, but I'll look to hold and buy more if / when the stock reaches its debut-day high of $52.90 and the environment improves. Reasons for entry are simple... stock gapped up on earnings, pulled in and then gapped away again on even higher volume than the earnings day. It has continued to show solid volume patterns with volume surges accompanying big up days (including today) & had a nice volume dry-up leading into today's gap and push.
Stop is just below where a complete gap fill would occur. Will be looking to slide the stop up as soon as I can given the poor environment. Would like to see a big volume up day bring us back to the debut-day high to drag that anchored VWAP from the 9/11/23 gap up above my breakeven price.
#ES_F 3.15.23 Day Trading Prep Tuesday 3.14.23 Review : We were looking for possible lower continuation but market had other plans, as we noted IF 3892-87 holds and we can get over 3932-27 we can see a push into upper Supply area, I didnt see it pushing that much in but what we did is we took it, held over it and then rejected from next Key area which was even better. If long to supply was missed there was a nice trade from 3976-71 -57-53 back towards the value at 3932-27 which we broke into but got short covering end of day back into Resistance.
Wednesday 3.15.23 Prep : Globex opened in the 3957-44 Supply area, we pushed above sold into the stop run and dropped the bid. Once we broke 3944-40 and broke inside 3931-3892 we went straight to the bottom which is telling us not that much support there, all of our buyers are under 3870. We now have short covering here at the bottom of Daily Support, things are looking like we could at least continue towards our 3866-47 target and possibly a break below? We are under Previous Day Range but inside T2 range, IF we fail to get back inside Previous Days range and hold under 3892-87 that might give us the move lower and if we can break 3853-47 T2 low and 3839-35 would be our targets, if selling is strong we can continue lower our next Daily Support is 3809-3787 we can see buyers around there or before. IF we end up holding 3878-74 // 3866-63 we could see a move back over 3892-87 where we can target Previous Day low and then watch if we accept back in it to continue higher towards Supply but for now Supply is above us and buyers are under 3870-50-30
Levels to Watch
Resistance : Key Daily 3957-53 Key Intraday 3915-10 // 3932-27 // 3944-40 Current 3901-3898 3892-87?
Support : Key Daily 3866-3847 Next Daily 3809-3787 Key Intraday 3878-74 // 3853-47 // 3839-35 // 3809-05
I did not expect the upward trend to continue.
But unfortunately, the upward trend will continue.
Soon we will see the price crossing this resistance level.
The bullishness of this chart is clearly seen in the words of the Federal Reserve Chairman.
Of course, these are just my personal opinions.
SN Long IdeaWith Energy and Oil starting to move higher. SN looks like a buy to me. Getting in at $0.43. All significant MA's are looking positive.
SN has room for growth - expecting pattern repetitionThis stock definitely has been on a consistent down trend, and on the 5 year chart has been trending relatively sideways as of late, however - we recently hit a 52 week low of around 2.70, and are now seeing a rebound off of that.
based on a decent amount of time watching this stock and giving it my best effort to understand SN - my hypothesis is that we will see it go up to around +/-3.60, and drop a final time before rising up to another resistance at around 9 dollars in the next three months.
This is just based on my own due diligence, not to be taken as trading advice just sharing my thoughts on the future of this stock.
