Important Stocks To Watch - Stocks At Or Near 50 MA, 200 MA, Chart Patterns

Technical Analysis Of Sam Engineering

Analysis of Sam Engineering stock chart.

6 October 2021

Today Sam Engineering broke out of a pennant pattern. This is a continuation pattern and there may be more potential upside for the stock.

Sam Engineering is above the rising 20 MA, 50 MA and also the 200 MA. This is a picture of strength in technical analysis. Today it broke out of a pennant pattern. The pattern is perfect as there was declining volume during the consolidation period.

The buy point is the breakout point but of course you might be wondering how high it can go. One can take the height of the pole which is the last move up before the consolidation and project it upwards from the tip of the pennant to get a possible target. Go do some homework.

Target may or may not be met but if there is a correction then the top of the pennant will be a support area. A good pennant breakout will not see the stock dropping back to the tip of the pennant. It rarely happens in genuine breakout.

The 60 min chart shows us how the breakout occurred. Watch the 60 min 20 MA. It will guide you to show you when the stock might reverse. As long as the stock is above the rising 60 min 20 MA then there is a big possibility that it will meet the projected target.

  • Help support this page and press the Facebook Like button below. Thanks!

Join Dstockmarket's Facebook Page 

Recent Articles

  1. AMD Stock, From $85 To $122 In 12 Trading Days

    Oct 19, 21 08:25 PM

    A combination of technical setups help to propel AMD higher. When it hit the 200 MA, it bounce up and shot up to $122.

    Read More

  2. October 2021 Stock Market Analysis

    Oct 19, 21 11:28 AM

    Are the markets in an uptrend or downtrend? Where are the support and resistance areas? Stock market analysis for October 2021.

    Read More

  3. AA Stock, From $38 To $57 In Less Than 2 Months

    Oct 19, 21 01:01 AM

    After correcting to the 50 day moving average, Alcoa was able to find support and rise to $57 in less than two months.

    Read More

  4. Visa Stock, V - Technical Analysis Of Visa

    Oct 18, 21 12:24 AM

    Technical analysis of Visa stock. A look at its trends and support and resistance.

    Read More

  5. Technical Analysis Of Bitcoin

    Oct 17, 21 10:38 PM

    Analysis of Bitcoin's chart. Is it in an uptrend or downtrend and where is the support and resistance.

    Read More

New! Comments

Have your say about what you just read! Leave me a comment in the box below.