Without any announcement this kind of breaking out happens very rare, as the actual price jumped from 49c to 50.5c at 10.11a.m. Usually quick profit takers wait for a reversal and they start to sell immediately, what actually happened today. So I would expect a relatively strong resistance at this price level, also some consolidation is required after the stock moved sharply for the last several days. This kind of price levels are broken with a usual volume increase what did not happen today. I think several days consolidation just below 50c and after that a strong move up should break this resistance level. But as I mentioned in my earlier message I would expect some resistance in the 50-60c area.
SAE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
