Posted by downtowntrader | 9/08/2005 12:02:00 PM | 0 comments »

SCLN may be interesting here. They closed over the 10 day sma for the first time since the pullback from their recent run up. They tested the 38.2% retrace (which also happens to be a support line from the breakout point) twice, so we have clear support at 5.00. This provides a nice risk / reward ratio if you target previous high, but it could also continue on to new highs. Right now 50ma is resistance at 5.86, but if it breaks that, then it may resume the previous uptrend. Good Luck.


note: I own shares from the low 5 level. Please do your own DD before investing any money.