SIM Falls Below 50DMA
By Brett Goldstein on Dec 13, 2006
When i made the previous post, Sim was at great support. The 50ma and its trendline support. Well i just got home from the gym to find out that it sliced through both. The macd and rsi are both negative. But if this stock can close near 18.30, then you might want to get a few shares. If not, im going to sell the shares I bought there and take a loss.
5 Responses to “SIM Falls Below 50DMA”
I’ve watched SIM since April and traded it between $9-12 in July. This stock has run up from a low of 5.35 in April to where it is now. Each time SIM has broken to new highs it has traded down very rapidly and rebuilt itself to a new high. Looking at the chart, it seems like SIM is rolling over for the first time. It may be extended from a valuation stand-point. Each time SIM has sold off rapidly in the past 10 months, it has been on the other side of a proportional rally. Not this time. You probably sold the position seeing how it traded into the close.
I wouldnt try buying this up because as you can see it already performed poorly once. Fool me once shame on you, fool me twice shame on me and I bealive that other chance is coming very soon. It may begin to rise for a little bit but I dont think its a long term stock you would like to hold on to!
Yeah, i didnt sell this stock yet, hopeing for a bounce today where i can get rid of my shares at a higher price. Hopefully it will bounce up and not come back down but it does not look good at this moment.
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yeah, i usually never buy uptrending stocks when they fall below the 50DMA. too many traders set stoploss below 50dma… better becareful if it doesnt recover in afternon trading