However I think that with the shown chart and based on the market conditions from my point of view it is still not a good time to buy/accumulate the stock. I would like to provide a couple of comments on the posted chart and your conclusion:
- technically speaking with a relatively large range of the prices in the chart, the chart should be drawn in a semi-log scale and correspondingly all trends should be considered in the semi-log scale as well, so with a semi-log scaling the chart will have a different view that the one posted by you
- you showed the tweezer bottom pattern on a weekly chart, but the last candle with a short body corresponds only to a single day trading, so strictly speaking your statement in this regard is not right
- the best scenario to enter the stock would be several short body weekly candles with relatively small trading volumes something similar in flavour as it was during SP consolidation in March - beginning April this year
Based on the above mentioned technical points I think it is a little bit earlier to buy the stock, however as we all know the stock is very undervalued and has very good fundamentals.
SAE Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
