SCB : A breakout above 108.50 places 120 as the target
March 10, 2011 Leave a comment
A weekly close at 105 or better on SCB’s chart will set the stage for an attempt at the hugely important resistance at 108.50, with a breakout here in the near term placing 118-120 as the next main swing trade target. The stock has some support at 104, but a stronger level is seen at 100.50 to 101.50
Volume has been lacking of late, but there is time yet for a big surge – hopefully for a breakout attempt at 108.50. If already long from much lower prices, keep holding with a sensible trailing protect profit level.