Very bullish action this week while the general market is starting to roll over. I think the S&P will correct down to @ 1,600 in the near future, but that doesn't mean that SZYM will pull back much. The weekly chart clearly shows the acceleration of the uptrend and appears to be making a beeline to $15.55, which is the highest weekly close since mid March 2012. Once we get weekly close of $15.56 or better then a move to $20 should happen within 1-2 months.
So at this time I see $14+ by the end of June, $16+ by the end of July and @ $20 by the end of September. Of course, that just how it looks at the moment as long as there are no delays with any of the manufacturing facilities.
The SRN news certainly changed things. The weekly and daily charts still look good, but the momentum has stalled. Over the past couple of weeks a symmetrical triangle has formed on the daily chart and looks like it's ready to make a significant move, but we will need to wait and see if it breaks out or down. If management acts fast and proves that dissolving SRN was a short and/or long term positive then the stock will go to $16 fast. On the other hand if there is a news vacuum over the next month I think the stock could easily trade down to @ $10. On a positive note, we are in the second half of the year now, which is when Moema comes online. It will be interesting to watch it play out.
I sold over half of my position mainly because I've found better stocks to trade (TSLA, CERE, NFLX, CMG, CLFD, IL, YELP and GIMO are the stocks I've been trading the most). I do posts charts on twitter. You can just do a search for $SZYM
Would have liked to see SZYM rally up to $11.55 or so today to generate a buy signal, but the odds are high that it happens on Monday. Another week of consolidation might be in the cards for next week, which would be two weeks of rest. The week after next is probably when the run to $14 starts.
1,600 S&P target hit and market very oversold. SZYM had a sell signal yesterday, but could easily rebound once the market turns back up. Probably safest to wait for close back above 4 day to buy or add to existing positions.
I've been impressed with the reliability of your 4-day ema buy-sell signal for short term trading--could you tell me if you buy or sell after a crossover close at the opening the next day, or do you wait for confirmation and/or a better price during the day? Thanks.
The sure thing on low time frame charts is 8 and 34ema when the 8 crosses you buy that is a top indicator for the daily it is 5 and 13ema along with 50 and 200 simple ma. We have been on a buy signal since 4-24-13.
Sentiment: Strong Buy
I am not a technical guy, but I appreciate your insights. I will never forget the "close above the 4 day moving average" rule though. I am encouraged that you see such movement for SZYM. Exciting times indeed for longs. I am banking on the proven scale at 500K liters at Clinton. Things could go wrong, of course; but they issued that press release for a reason. Cannot image it was done without great confidence in the underlying processes.