Nothing looks clear cut to me. My best guess from the chart is the $8-$8.50 area.
The market almost made a 52 week high today and SRZ is a falling knife.So if the market makes a strong correction ,IMHO SRZ could drop to it's 200d($6ish)............. if things get ugly.
Does anybody else have an entry point for SRZ?
well said....if you buy stocks cheap enough you dont worry about the swings. charts help you know when a stock is low or high.. I am still up 1000% in srz and am not surprised at the volality. I admire Mark Ordan and the job he is doing and will just ride along with him. 1.4 billion in high quality revenues is a haven. patience
True, a market rout could threaten those points. But in the meantime, barring a "rout", there is significant support near the $9 - $9.25 level and I doubt that would fall easily. Kathy, RT and the rest are correct with their fundamental analysis of SRZ in that they have a steady and reliable cash flow stream and it would take a cataclysmic event to violate that level without a serious battle.
When using T/A it is more accurate to look at the intermediate levels first before presenting the worst case scenario, imo. That was the case I was trying to make. T/A does not predict the future ... it only gives us clues as to the probabilities of certain events happening. And the battle for $9 will have to take place before we ever need to worry about seeing the $8 level.
I'm just looking at the chart you posted. Peaks have nothing to do with a 200 day moving average other than play their part in the overall calculation. I believe you requested a SMA (simple moving average) on your chart and not an EMA (exponential moving average). It would make a slight difference but not much.
It appears to me that SRZ wants to form a rounding or parabolic bottom and that it will fill the gap that occurred on the 2/25/11 gap up....and find support for the bottom in the 8.30 to 8.40 range,but it may have to go between 7 & 8 to form a permanent bottom where the Jan 5 to 25 action percolated.The volume action today was a change for SRZ behavior in a # of ways with big activity only at the beginning and end of the day with only an uptick between 1:30 and 2:06.This tells me that a shakeout is under way with the retail investor doing not much buying and the bigs repositioning at their preferred times,and it is clear that some bigs are buying in because we have seen upticks in the last few days on large volume transactions on one minute volume charts.Let's see if this continues until some type of capitulation coming in the next couple of weeks that sets SRZ ready to move higher again.This timing would set up for the May earnings report if I've got it right.Ofcourse,I'd like it to go higher now and stay there but I know it can't set up to surpass the recent highs unless a complete shakeout occurs.
The SRZ turnaround story is still in tact and it may take a few quarters,even possibly into 2012 for Mr Ordan to make believers out of the entire investment community.I am in it for the long haul,even if I am wrong about the bottom area....but what I am sure about is that SRZ will find a bottom and build strongly from there if Mr Ordan can produce as is anticipated.
OK ... 11:30 ET and we are having a test of the lows from earlier this morning. At this stage, I'm still standing by my earlier post of $9.00 - $9.25 being the support level on the chart and with the volume now drying up here, we will know soon enough if that will hold. We have seen $9.14 this mornning as a low, almost smack dab in the middle. The volume drying up to a trickle tells us a "change" is on the way as investors are getting ready to make their bets. Which ever way it goes is likely to be the trend. Turn and head back up or continue down? Stay tuned.