SNSN schreef op 24 november 2016 13:16:
For today: PP=2.693
Resistance: R1=2.710; R2=2.747
Support: S1=2.658; S2=2.640
As was prescribed (see old posts) the stock is in short-term 'technical retreat' after (almost) hitting a hard resistance at ~2.75 --> the mid of strategic r-zone, former s-zone (see old posts). The 'technical retreat' is caused by just well known standard (for heavy-volume 'short squeeze' on Nov 22) pure technical reasons (read old posts for details). Do not forget that out of ~45 M opened on Nov 21 'active shorts' (read recent posts), the only ~15 M were covered (in a very prof way) at 'low & flat' during Nov 21 (since ~10.30 till closing), the rest of active (not registered) 'short volume' was covered next sessions.
The st-upwards potentials are restricted by the hard r-zone ~2.70-2.80 (former strategic long-term s-zone --> read old posts for details). Some time for consolidation is needed to break it up.
So, do not take any losses voluntarily. The current retreat, as well as former 'fake downtrending', has NO fundamental grounds. Though, some technical attempts for 'active shorts' (in smaller volume) & 'stops hunting' still may take place...
The stock's
'fair value' is ~4, and the P/E-ratio is quite low:
P/E = 16.5
Keep in mind, two-days bullish reversal pattern - 'bullish harami' - formed on Nov 18 & 21.