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SSCC Chart Analysis: 1.5 year, 6 month and 3 month

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By Yaser Anwar, CSC of Equity Investment Ideas

This is a 1.5 yr chart of SSCC. Do you notice a significant, or somewhat significant, move every 3 months? There are 8 instances and in 5 of them there has been a significant move up or down. Can we say SSCC trends every 3 months? Hmm

SSCC has been a complete breakout. I checked out the fundiz, don’t look all that, just fine. However, the price action is telling something else. What worries me is the downward sloping OBV, has the trend changed? There is a good probability that SSCC will retrace to the 62% level.

SSCC has had it all in the past few months. From a double bottom to a head and shoulders pattern to a break out. What’s next?

When OBV and the stock pulled back last time, it would have been a good buying opportunity, around 10-11$ level. Now a similar situation might be occurring at $12.25-12.5, do we buy the dip? or wait for a retracement to 62% level? I’m confused, what do you reckon?

Thanks to Wes for informing me about SSCC.

http://www.equityinvestmentideas.blogspot.com/

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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