
In short, after doing an evaluation of SebMarine's chart, my observations are as follows
Observations:
-Px still trading insides symmetrical triangle.
-Upper band of triangle to be broken when px hits above 4.00 / 4.01
-MACD close to a crossover to the positive region, and blue line crossing over the red.
-Price broke the 150D MA though fail to close above it.
-Volume increased.
Trading Hypothesis:
I expect that sembmarine to break above its symmetrical triangle soon when price goes above $4.00. Given such a breakout from the stock's symmetrical triangle, we can expect the price to hit around 4.40 in due course. However short term resistance of the price is around $4.14, so traders can expect to liquidate around this price to locked in some profits first.
Alternate hypothesis:
Unless prices make a retreat this coming week back to the $3.8x region, we would unlikely see a breakout below the symmetrical triangle, given the optimisstic conditions in the market currently. Howeve if it does, it is advised that traders cut loss below $3.88.
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