Seven West Media (SWM)

Discussion in 'Stocks & Derivatives' started by scott_reeve, Feb 24, 2018.

  1. scott_reeve

    scott_reeve Active Member

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    28 May 2017 chart:
    [​IMG]

    15 July 2017 chart:
    [​IMG]

    Latest chart (24 Feb 2018):
    [​IMG]

    In the evolution of the 3 charts, shows how important the 68 cents Support line was. Once it broke in Sept 2017, the shareprice couldn't get back above this level. This meant that further downside was likely. 6 months later SWM was sub 50c and finally making a bottom.

    I'd now expect heavy Resistance above current price as 68c & 200(d)sma are near.
     
    harry_mr likes this.
  2. scott_reeve

    scott_reeve Active Member

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    SWM chart update.

    [​IMG]
     
  3. scott_reeve

    scott_reeve Active Member

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    Latest SWM chart:
    [​IMG]

    SWM's chart now looks a lot healthier than a year ago. +100% in last 4 or so months.

    The charts in this thread going back to May 2017 show how a stock chart can go from being long-term Bearish and change to being short-term bullish. When long-term Support or Resistance lines break (likewise with 200 day SMA), market sentiment for a stock can change dramatically.
     

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