Monday, September 12, 2005

watchlist update; SNUS

I posted SNUS on the first of September as a stock to watch. Since then it consolidated some and came down quite strong last Friday.

So it went up on high volume from almost the bottom of the price channel to the top, then consolidated and came down again. If you look at the chart you can draw 2 ascending trendlines which are functioning as the support of the price channel. If the 1st line is broken it jumps of the 2nd line. Friday it touched the 1st line and I expect SNUS to move up again in the coming days.

It's a moderate Buy to my opinion, since I expect it to move at least to the top of the channel again.

the chart:

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