To All -
Ok, you guys said you wanted TA... here's my weekly look at SNRS...
I use weekly price data, charting a 12/26/7 MACD (as opposed to the classical 12/26/9). I also chart a fast (6/5) ADX, which shows how strong the stock is trending.
The MACD 'histogram' is negative, but currently rising. This means that the stock is 'accelerating' upward, but has not risen enough to show an established uptrend. Although some buy when the histogram first starts upward, I have found that the best buy signal is when the histogram line crosses zero.
The decreasing ADX confirms that the stock is becoming more trendless at this time. It will have to begin rising again and get over 25 to indicate a trend strong enough to believe in.
So, my charts say:
1. If you are on the sideline, stay there for now.
2. If you are long, hold for now.
If this is helpful, let me know and I'll try to continue. I don't own SNRS now, but I intend to continue watching/trading this stock until it is fully mature. Keep in mind that my charts won't change as often as with the folks who use daily data; some will prefer the faster charts, some the slower.
Loren |
