daily - weekly - mothly...looks good

SSN is really looking nice from a technical perspective on a number of different time frames.
This stock has been on fire lately and is now trading about 300% higher then it was 3 months ago.

My view is that this run will continue due to the stock breaking out on a number of different time frames.


Heres a 9 month Daily chart



The chart illustrates a very strong breakout of the 2.4-2.5 cent resistance zone on the back of very strong volume,thus validating the break out.

Following the breakout the resistance level has now become support, the strong support here is evident on the chart. Since the break of the resistance SSN has tested this now support zone on a number of occasions, and has not closed below it on the daily chart.

The new resistance zone seems to have formed around the 3.2-3.4 cent zone, look for SSN to close above 3.2 cents on the daily chart as this may lead to an attempt at new highs.

The stock may needs to consolidate its gains for a little longer. This should not be cause for concern and can be treated as a buying/accumulation opportunity, as long as the share price stays above the daily support zone the consolidation will aid the sustainability of further increases.


Heres a 18 month weekly chart



This chart illustrates Samsons break out on a weekly time frame.

You can see that over an 18 month period the weekly resistance line at around 2.3 cents was tested and failed to be broken on at least 3 seperate occasions.
Therefore the break out, and close above this level from a weekly perspective is very bullish for SSN.

Following the breakout this previous strong resistance level should now act as strong support. Evidence of this is the test of the support, with the share price failing to close below it.

Heres a 6 year monthly chart




The monthly resistance line at 2.3 cents has been broken which is very important.
You can see how strong this level was from a monthly perspective, the stock failed to close above this level on 4 seperate occasions.
The next target from a monthly perspective is around 6.5 cents. I see no significant resistance until this level where strong historical support should act as resistance.

I like looking at the monthly as it really eliminates the noise of short term fluctuations. You can see that even though there have been pullbacks on the shorter time frames that Samson has registered Month on Month share price gains for 4 consecutive months.
This to me signals that momentum is well and truely with the upside.

Heres a look at a 4 year daily chart with EMAs



This chart is pretty important in illustrating how things have changed from a technical perspective for Samson.

The stock made a bearish cross in June 06 with the 41 EMA crossing below the 195 EMA. As a result of this bearish cross, Samson had technically been in a long term down trend for over 4 years.
The 41 EMA has now recently crossed above the 195 for the first time since the break down. The 195 EMA now looks to have flattened out and is turning upwards. The bullish EMA cross is very important as Samson is now technically in a long term up trend.


The breakout of the share price on multiple time frames paints a very bullish picture. Technically further gains seem very likely as long as Samson can deliver fundamentally.

Good Luck!