encouraged by this weekend's charts on SSL.
WEEKLY
stockcharts.com
DAILY
stockcharts.com
I bought it even though my chart rules told me NO. OBV was in the toilet and there was no clear uptrend on the daily.
I decided the fundamentals overruled the chart, and that the chart would have to catch up with the fundamentals in this case.
i read these charts, particularly the drifting up in the OBV visible on the WEEKLY, that smart money is starting to realize that SSL is well positioned going into the fall, because of turning cash flow positive on account of luna in brazil. of course, if gold heads south so can SSL, at least temporarily.
the ace in the hole here, and let's hope we dont need it, is that maybe since SSL already crapped out from its highs, it could stay stable even if gold does a dip.
on this weekly chart, you can really see the ssl starting to come around. The line expressing On-Balance-Volume OBV up above is acting more bullishly, coming off its basement level action.
By clicking on the daily view and comparing, you can also see that even though the stock is way under its 50 day moving average, it is holding to its own rocky upward path on the WEEKLY, trending above the one year moving average. |
