Sea Has a Bullish Triangle
Sea Ltd. Is one of the biggest companies people have never heard of – especially after this year’s big run from the 40s to the 180s.
The Singapore-based esports giant had a $90 billion market cap last week. That makes it comparable with Target (TGT) and CVS Health (CVS).
Trend followers may eye the chart for continuation higher into yearend. The first key feature is an ascending triangle that’s taken shape since early November. Roughly $187 is resistance at the top of the pattern.
Second, SE closed at $156.53 on November 10, slightly lower than its October 30 level. However, prices instantly snapped back the next session and have remained above those levels since, resulting in a false breakdown.
Third, the bounce occurred at the 50-day simple moving average (SMA), which SE has remained above since.
Finally, the stock has fought back above its 21-day exponential moving average (EMA) and stayed there for more than a week. That could be a sign it’s ready for another push higher.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
The Singapore-based esports giant had a $90 billion market cap last week. That makes it comparable with Target (TGT) and CVS Health (CVS).
Trend followers may eye the chart for continuation higher into yearend. The first key feature is an ascending triangle that’s taken shape since early November. Roughly $187 is resistance at the top of the pattern.
Second, SE closed at $156.53 on November 10, slightly lower than its October 30 level. However, prices instantly snapped back the next session and have remained above those levels since, resulting in a false breakdown.
Third, the bounce occurred at the 50-day simple moving average (SMA), which SE has remained above since.
Finally, the stock has fought back above its 21-day exponential moving average (EMA) and stayed there for more than a week. That could be a sign it’s ready for another push higher.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.