So a stock has a 33% move on it's highest volume day since the IPO and with Moema announcement and the earnings call as near term catalysts, and people seem convinced that the gap has to be filled? Why? Many big winning stocks have big volume gaps that never get filled. AMZN, TSLA, GOOG...the list goes on and on...
Of course if there is very bad news the gap could get filled, but it's not a given.
It's the same thing I said that week - dummy. What was the high of last week? How does $13 compare to last week's high price?
We did have a sell signal on Friday, but I don't see the gap getting filled. I did not expect much upward movement this week, but didn't expect the poor performance today either. We'll see, but the weekly chart trumps the daily chart and that still looks good. A rally back above the 4 day ema later this week will fix the daily chart.
Will probably get a small rally next week with a relatively tight trading range ($12-$13). That would set the chart up nicely for a big move the following week (earnings week). If Moema news comes next week $14+ is possible, but it wouldn't surprise me if they save that for the earnings call.
A pullback like this is ideal...you want to see volume dry up. I still think we need a few more days of rest, so don't see the next move up until next week.
Yup...perfect flag. I can see it taking several more days of rest before the next leg up.
As mentioned yesterday...a bull flag is being formed. It might take a few more days or a week, but new 52 week highs are coming.
haha...the stock has had a year to relax? hahaha...well, if a human rested for a year it would be out of shape and would get winded quickly. Perhaps that's SZYM's problem. It needs to build up it's endurance.
The stock was up over 30% on Friday. What exactly were your expectations for this week? Up over 10% every day this week? Good grief.
Stocks need to rest...relax.
Due to high frequency traders jacking up the price on Friday the stock close over a $1 above the Bollinger bands, so this shallow pullback in no surprise. The stock will likely build a bull flag over the coming days, which should lead to the next leg higher. Pretty simple.