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Published on Nov 24, 2016
Sound
Energy has been a ‘star stock’ of the year to date, says technical
analyst Zak Mir, who is looking for the share to head back to the recent
highs of 100p.
Studying the Sound Energy chart, in a Tip TV segment for Proactive Investors, Mir says: “From July its up from 20p to hitting 100p in September, and it is still consolidating quite well.”
The chartist notes the share’s 50 day average is presently around the 83p, and support is at 70p.
“… a break above that [moving average], hopefully over the next few days or couple of weeks, and we could at least revisit the highs,” Mir says.
“Support is towards the 70p and for people who are not in this particular stock at the moment that would probably be the area to look to go long.”
Studying the Sound Energy chart, in a Tip TV segment for Proactive Investors, Mir says: “From July its up from 20p to hitting 100p in September, and it is still consolidating quite well.”
The chartist notes the share’s 50 day average is presently around the 83p, and support is at 70p.
“… a break above that [moving average], hopefully over the next few days or couple of weeks, and we could at least revisit the highs,” Mir says.
“Support is towards the 70p and for people who are not in this particular stock at the moment that would probably be the area to look to go long.”
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