Flag pattern! Flag patterns are one of the more reliable chart patterns. This is the second flag pattern in a row! Matter of fact, this current uptrend has multiple flag patterns. If this breaks out to the upside, a minimum price objective would be about 12.5 for a quick profit of about 25%. Even though RSI and Stochs are indicating an overbought condition, there is established momentum with this stock. So the overbought status may be irrelevant with SOCR at this point in time, but still it is worth watching.
I currently do not see any divergence with the RSI or Stoch yet. There are supports at about 9 1/4 and 10. Also, the stock is continuing to trade at relatively high volume. The current volume is at about 1.5 months turnover.
Blast! This stock has no available options! Well, it is at about 10, so I should be able to get enough money together for a 100 shares. This is where the discount broker will come in handy. Boy, there is alot of buyer interest in this stock in relation to the shares available. Still, I have never played a micocap stock like this one, and the price can come down as quickly as it went up for this very short term play.
Bill, what has you experience been with these microcaps in making plays on them as compared to larger cap stocks?
By the way, Richard, is the probability of success for a flag pattern altered if this is the second one in a row?
Feedback anyone?
Bob Graham |
