SYNL Low Float Breakout Watchlist
By Johns Wu on Apr 10, 2007
A reader emailed me this stock pick suggestion about SYNL, SYNALLOY CORPORATION:
“A quick note on SYNL (Nasdaq).
This one could be a major winner as the float is just 5.1 million and it’s got a great looking chart:
My personal target is the $35 - $37 level. I have already taken a position in SYNL and advise you to do further due diligence on your own.”
I like the chart, and will be keeping this stock on my watchlist for a swing trade.
This entry was posted on Tuesday, April 10th, 2007 at 10:41 pm and is filed under Annotated Analysis.
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With a raising wedge, negative divergence on RSI, MACD and thin volume, need to play safe on the long side at this moment.