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Tag Archives: $SZYM

Cup and handle breakout for $SZYM

$SZYM reflects a beautiful cup and handle breakout pattern today with relative high volume.

Take a look at the daily chart.

SZYM_daily

It is important that price action stays above the $9.50 support line and not fall back underneath it going forward.  Giving the catalyst of increased capacity will be “on schedule” in the near future according the the earnings CC call, the possibility of price action heading higher is good.

I finally bought back some position this morning to take advantage of the early downdraft.  Although I’m not holding as much as I used to (I wish I did); but that is ok since I’ve to manage the risk I’m in on this one.  Risk management comes with the price of missing some money on the table IF price action reacts in your favor; on the other hands, reducing my position will also reduce the damage if price action reacts negatively.  So, I’ll have to look at $SZYM price action on a going forward basis.  In other words, I will add only if price action continue to go higher.  The number of shares I used to own is no longer relevant to my current risk profile and I will have to trade accordingly based on price action.

My 2 cents

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Bust out or breakout?

I’ve been stalking, trading, positioning $SZYM with more headaches than any other stocks I’ve traded.  Now, I think I’m at a comfortable position with the size I want giving current price action.

Take a look at the daily $SZYM chart below.  Price took out the high of 04/11 and is about to take out the 89xma as well. 5ma crossed over 15ma and the two momentum indicators are pointing up.  On top of all the technical supports for a bullish bouncing stance, my gut/intuition tells me this one is about to take off.  (caveat: my gut/intuition does not possess the property of a divine crystal ball, so take it as a grain of salt please.)

SZYM_daily

Now, will I be proven wrong again?  From my track record with $SZYM, I’ve been proven wrong time and time again.  Like a roulette game, after so many red, black should turn up any time now, right?

My 2 cents.

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