Ok, so i thought i would start a chart thread on SIR to paint the technical picture:
My observations
- SIR has formed an uptrend (Obvious right..)
- Double to formed at 99c, this is the key resistance level to break
-87c is also providing resistance
- Previously formed a symetrical triangle from the initial high. Today about midday it tested resistance at 87.
- Formation of ascending triangle (See points 1-4). 2 is also a pivot for the sym-triangle.
-Importantly, we are not at the end of the ascending triangle, so a breakout is likely. What is very important is the close within the uptrend - anything below this would have been a concern.
- Both the ascending triangle, symmetrical wedge and the uptrend suggest SIR has more upside in it yet.
IMO this is not a pump and dump, this stock is following technicals very well suggesting that the price is not just being driven by DT'ers.
Will post another chart with some more indicators and fib levels later :)
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Ok, so i thought i would start a chart thread on SIR to paint...
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