Stock Chart Analysis SNHY

Posted by downtowntrader | 11/13/2007 09:13:00 PM | 0 comments »

Stock Chart Analysis SNHY

Sun Hydraulics Corporation (Public, NASDAQ:SNHY)

SNHY had an incredible run from early this year through it's peak in July. It then had a pretty swift and steep correction, before leveling off into a W bottom. It then tested the previous highs and has since been in a consolidation range between the W bottom and yearly high. It looks like there is a chance that it will set a low here at the previous W breakout area and head back up to challenge for a breakout. The worst case scenario is a stop out for a small loss, but with a little luck and a decent rally in the markets, SNHY could ultimately breakout to new highs.

Good Trading,


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