Today, we will analyze the chart of SNTS.
I had purchased the stock at 23.89.
Here are the reasons I had purchased the stock.
1. The stock was in an uptrend. Notice that the stock is moving up in a smooth uptrend. What does that mean?
That means that the Big Boys ( Hedge funds, Investment Banks, Financial Institutions ) are acccumulating the stock.
2. The DreamTai Power Ranking was above three. That means that the Big Boys were buying the stock in LARGE VOLUME. The fact that they were buying in large volume means that they were dead serious about this stock.
3. The stock formed a triangular wedge. This gives us a good opportunity to buy as soon as the stock goes above the wedge.
I got the stock at 23.89 right when it jumped above the wedge.
The stock reached upto 28 and then retraced back to 22.
I have already put a stop loss so I am not worried if it goes lower.
SanJOY
