I'd be cautious still on any share with technical indicators looking like they are.
The S+P is setting itself up for a POTENTIAL major fall with text book head and shoulders pattern, the DOW last night has a spinning top at the end of a run up and the VIX shows a very bullish, what I would call a Doji kicker! So for trading SDL I would look for the gap to close the other day and then hope for a bounce. A break below 31.5 would see 30 no doubt and a break below not good at all making a lower low, if that eventuated.... which would need a further look to determine best action to take. It was clear to me that the selling at 34 was indeed both profit ST takers and shorters.
I hope that my previous accuracy and long history in SDL is enough to be allowed to post without holding and those determined to see only positives at least see that I offer an opinion and hope it helps the balance in conversation in SDL land. I also really think it important to repeat the note I made the other day about a crowded trade. There is no easy money here ladies and gentlemen....
Folio wise, I sold my last parcel of shares yesterday, ready to wait this one out.
SDL Price at posting:
32.5¢ Sentiment: None Disclosure: Not Held
