Seaboard Corp. Message Board

  • slide_rule24 slide_rule24 Dec 6, 2005 10:41 AM Flag

    Bounce

    OK. Opened at yesterday's close, and immediately went down to re-test resistance at 1784. Bounced off of it, and we're back at yesterday's close. Looks like the market is trying to decide what to do. Volume is low. From here up, there is no resistance.

    slide

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    • Thank you Slide for keeping us posted! It did hit 1840 yesterday, do you think it can do it again? Best to you. Luca

      • 1 Reply to actionspread
      • Action,

        Today is all about indecision. Notice that the candlestick looks like a doji most of the time that you're looking at it. Goes up a bit. Comes back to 1809. Goes down a bit, comes back to 1809.

        That being said, accumulation is still very very high, both on a 1 month scale, an on a 2 hour scale (looking at the past week). In fact, as SEB broke resistance yesterday, volume and accumulation were both extremely high. Once we past this indecision point, which could take a few more hours, or even a day or two, the stock should soar (again). Keep you stops in place, just in case the market decides to take a harder step backward.

        But, all indicators show that the stock hasn't lost it's steam yet.

        slide

 
SEB
2,680.01-27.99(-1.03%)May 21 4:00 PMEDT