SCP - Trade PlanMy trading Bias is Bullish for SCP as Earning Report is out of the way now, and after smashing surprise positive earnings.
On the technical front, SCP managed to break out of the Bearish Trendline with High Volume indicating that the Bulls are now in control and want to take the price higher. It has gotten Support right at the edge of the trendline and at the 61.8 Fib Retracement Level, and also the 200 SMA.
TP - $2.50 (Potential Gain 5%)
TP - $2.60 (Potential Gain 5%)
Stoploss - $2.250
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
SCP trade ideas
SCP - Trade PlanWith Earning Report out of the way now, and after smashing surprise positive earnings, SCP managed to break out of the Bearish Trendline with High Volume indicating that the Bulls are now in control and want to take the price higher. It has gotten Support right at the edge of the trendline and at the 61.8 Fib Retracement Level, and also the 200 SMA.
I will be taking a Buy Position aiming for a potential 6-10% gain, targeting $2.55 - $2.60 zone and a tight Stop at $2.25.
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
SCP - Good Buying OpportunityBullish Confirmation Indications
Recent price action has confirmed a reversal by pumping upwards and forming a higher high.
1. Price has formed a higher high
2. It has formed a Golden Cross
3. After forming a Higher High, price failed to continue upwards and is now pulling back
4. This pull back has come down and has entered in the Buy Zone and Fib retracement zone of 50% - 78.6% of $2.20 - 2.35
5. There is also a trendline support and price may bounce at the lower end of the channel support of $2.20
6. There is a High Volume Profile Zone at $2.20 (another confluence)
7. I will be confident to buy in the $2.20 - $2.35 region (Buy Zone).
Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
$SCP long on irrational sellingSome decent buying 7/7/17 off support.
2 gaps from a week ago yet to be closed.
-12% in 14 days on unsubstantiated fears of arrival of Amazon and woolworths $WOW performance.
SCP property rentals only increase; increased revenue forecased and client WOW heavily established as market leader.
