SENSIO 3D Update - Looking Strong In A Down Market
Originally posted by Johnny Stocks, September 2
SENSIO ended up doing quite well today, especially considering the sell-off in the overall markets again today. The bid/ask spread was pretty wide with the last trade of the day occurring at the offer at .495 for 1000 shares. Most of the activity in the afternoon was at 47.5 cents which is probably a better indication of where the stock should have closed.
But either way, technically a very nice day today. SIO bounced off support of 3 major technical levels:
- 38.2% fibonacci retracement - 50 day moving average - 20 day moving average
SIO also printed a nice outside / bullish engulfing reversal on the daily chart which suggests that today marked the end of the consolidation/pullback and we should start heading back up again from here. Hopefully on higher volume to provide confirmation. The 20 and 50 day moving averages are also starting to turn up which is a...
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