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SandRidge Energy, Inc. Message Board

  • pro_stock_picker pro_stock_picker Feb 1, 2013 11:30 AM Flag

    Resistance Line is 7.22 the one above it is 8.58

    SandRidge rose from November 9 bottom until the last couple days.

    The current "mutual fund wars" is seen in the 1day VWAP (volume weighted at price) resistance line on 1day chart is 7.22. SandRidge rose from early November until January 22 then fought this 7.22 resistance until the last couple of days. Daily bollinger bands span 6.63 to 7.30.

    Let the funds duke it out. With the rising fundamentals backdrop in US, Europe, China, armageddon off the table (e.g. Spain paid back the most recent bond payments faster than required), Fed buying bonds until jobs are substantially better including those not looking for work, and Bonds beginning to rotate into stocks things are looking stronger.

    The energy needed to fuel China and US manufacturing will lift energy sector higher with the markets who are starting to price in a healing recovery scenario. I like SD and HERO here.