SC : A rally to 20 looks increasingly likely.
February 28, 2011 Leave a comment
SC has a multi year resistance at 18.50, and this time it looks as if a serious attempt at a breakout should be forthcoming. If so it should signal a rally to between 20 and 20.60. There is decent support at 17.80 or so, so either consider buying if there is another sell-off and failed attempt at 18.50, or indeed enter on the breakout. In our view, a successful breakout above 18.50-18.60 will need a good 2-3m shares going through within 30 minutes or so. No volume…no break.