SCB : If 99.75 fails, next support is 97
March 17, 2011 Leave a comment
SCB hit its 50 day SMA and near term trend support at 99.75, and should offer a technical rebound under normal circumstances. Given it holds at 100, first resistance on the rebound is 102.50-102.75.
However if news flow is extremely negative, the stock may come off to 97 or so, at which price there ‘should’ be a rebound.