Tuesday, September 20, 2016

SATS: Indeed a move above 5.00 too, price 5.11, more upside from here?

Just last Friday, I spotted a potential breakout above the 4.90 level, SATS was trading at 4.87 then….

Mentioned about the longer term trend being intact and still a potential to ride.

Today, we have seen a firm move above 5.00 indeed…

Indicators still looking good imo..

Can there be more strength from here?

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Recent Email:

Sent: Friday, September 16, 2016 3:26 PM
Subject: *********** SATS: A potential breakout above 4.90 can see the uptrend continue, price 4.87
SATS has maintained above the 4.60 support for more than a month even rebounding from it. We are seeing some resistance at 4.90 then 5.00 now with it likely to attempt a move above. Longer term uptrend intact so far with it also supported above the upwards sloping channel support line. Any further push above 5.00 can see it find a new high. MACD also looking an at impending crossover at the positive territory which can signal more upside momentum with a corresponding price action.

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