SDL 0.00% 0.6¢ sundance resources limited

At the end of the day, things don't go up forever, and you have...

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    At the end of the day, things don't go up forever, and you have to be realistic about things rather than get caught up in the heat of the moment. A stock either goes up, down or sideways. And SDL has been doing alot of going up recently, so it's probably a good time to get a bit of harmless sideways movement.

    At some point in the next month or so the stock is going to have to consolidate around a level to absorb both the time and volume of this rally over the past few months. I'm betting on it starting either this week or a bit higher (around 50cents).

    I doubt this will retrace below 39cents because that is a historical support/resistance level. Ideally you want 44cents to hold as it is a fibonacci projection price.

    So as it stands, I wouldn't complain with a bit of sideways movement in this 40cent range over the next few weeks just to build up a good base for when the finance deal is announced early next year.
 
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