SNCI

[FundaMental1]

Spikefader,

What do you think is a good entry point for this stock? It was brought to my attention by Stenzrob and the fundamentals look pretty good. They report earnings on the 27th of this month and i always worry about buying before earnings announcements. What do you think of the chart? Thanks.

[spikefader]

Re: SNCI

Spikefader,
What do you think is a good entry point for this stock? It was brought to my attention by Stenzrob and the fundamentals look pretty good. They report earnings on the 27th of this month and i always worry about buying before earnings announcements. What do you think of the chart? Thanks.

Good chart to show successful 40% gain trade from early Feb to highs earlier this month.
Right now, it sets up for a short, which I would decline while it's over 10.00 support by volume.

To contemplate long, it needs to break out of the blue channel first, and then a retrace back to a new channel line from the low 3 days ago, so probably won't do all that before earnings on the 27th, but watch and see anyway. The weekly chart looks like it wants higher, so a good one to put on the watchlist.

One thing to note though: on the weekly, it looks like it has completed a five wave movement up, and 2/3rds of an ABC movement back, so look for the C wave back before considering long. And thinking about that for a second, if the current wave is a B wave, and it breaks the light blue channel, then has a C wave back to the new channel, that would have you long at the channel (assuming perfect entry setup) and set to go up for a new wave sequence. But hey, that's a stretch!

[FundaMental1]

Re: SNCI

Thanks for the info, it is much appreciated. OMNI is getting smashed today as the result of a lawsuit. What does your technical analysis say about an entry point at theses levels (company specific fundamentals are fantastic)? thanks for your technical insight!

[spikefader]

Re: SNCI

Thanks for the info, it is much appreciated. OMNI is getting smashed today as the result of a lawsuit. What does your technical analysis say about an entry point at theses levels (company specific fundamentals are fantastic)? thanks for your technical insight!

You're welcome Might have missed the OMNI train, but it might come back to support to test the double bottom or neckline break intraday today for you.

my previous posted chart http://img47.photobucket.com/albums/...ading/OMNI.jpg

[spikefader]

There's the test of support for OMNI. Longs should be in at 5.83 with stops just under LOD.

[spikefader]

There's the test of support for OMNI. Longs should be in at 5.83 with stops just under LOD.

Stops to breakeven or at worst, 5.79. Reasoning: Earlier posted channel expansion, plus if the DB or SHS is valid, the trendline from LOD should not break. Let's see if it's the perfect entry or not

[FundaMental1]

in with a limit at 5.86 so really close to your entry point. hoping it's the perfect entry point - thanks for the technical analysis!

[spikefader]

in with a limit at 5.86 so really close to your entry point. hoping it's the perfect entry point - thanks for the technical analysis!

You're welcome. Hope it's the perfect entry

Now remember, this is a cautious long, so don't let it get away from you. I'm targetting 6.50ish at this stage, and final exit will depend on what the channel behavior is over the next few days. Hard stop at 5.75, just under LOD.

[spikefader]

in with a limit at 5.86 so really close to your entry point. hoping it's the perfect entry point - thanks for the technical analysis!

You're welcome. Hope it's the perfect entry

Now remember, this is a cautious long, so don't let it get away from you. I'm targetting 6.50ish at this stage, and final exit will depend on what the channel behavior is over the next few days. Hard stop at 5.75, just under LOD.

Should be stopped out even. Channel wise, the spike up to 6.26 this morning was a channel touch for exit, but you would have to have been quick to get it. Almost worked out, but no pain for trying anyway. Chart looks lower to me now, so I'll look for others.

[spikefader]

SNCI update from earlier in this thread:

[stenzrob]

SNCI gap closed

Spike,

Do you subscribe to gap theories? I have seen your TA on SNCI, and continued to hold anyway based on longer term price/volume action and on my take on valuation. A gap from $8.50 to $9.25 from late January filled, and I saw significant volume coming in when it dropped below $8.40 today.

I took a chance and bought some more at $8.41.

regards ... stenz

[spikefader]

Re: SNCI gap closed

Spike,

Do you subscribe to gap theories? I have seen your TA on SNCI, and continued to hold anyway based on longer term price/volume action and on my take on valuation. A gap from $8.50 to $9.25 from late January filled, and I saw significant volume coming in when it dropped below $8.40 today.

I took a chance and bought some more at $8.41.

regards ... stenz

hey stenz,
Yes, I'm a believer in gaps being significant support/resistence when they are tested. I also have some thoughts on targeting when there are large gaps, in that stocks usually travel in the direction of the gap at least the distance or amount of of the gap. There are few who would ignore gaps, which throw the little uncertainty out there when you see one in the chart. Is it a runaway gap for many months, or is it a gap that will fill in several weeks....you never quite know that, and they can bite you if you don't treat them with respect.

For SNCI, the fact that gap support didn't hold after four tests now is not good. The weekly looks like it wants 7.00, where there is better price by volume over 2 yr weekly, and support from mid '02, and where volume came in in Jan this year. That would be a good add point. Good luck with it.

[stenzrob]

SNCI posted great results, up over $9 in after hours on heavy volume.
We'll see how it goes from here ...

[stenzrob]

Boiing.
I just sold the extra shares that I bought for $8.41 a few days ago for $9.70 for the quick 15% in two days.
Still holding the shares originally bought for $11 for the long run.