SNSN schreef op 6 september 2016 11:51:
For today: PP=2.910
Resistance: R1=2.924; R2=2.94
Support: S1=2893; S2=2.879
Consistent with just slightly negative d-sentiment the trading is within the S1-PP range.
Given price formation dynamics ('pdf'- structure) the prob is high that the stock would try to break above the PP-line, changing the d-sentiment towards 'slightly positive'. Though, if the PP-line wouldn't be broken upwards before ~14.20 some tech retreat can't be excluded.
With recent bullish reversal signal 'hammer' (Sep 2) the stock is forming a second low (since the first one on Jul 29) in a 'double bottom' pattern increasing the prob for further rising on longer horizons(see yesterday posts).