By Zak Mir | Friday 4 December 2015
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Servision (SEV): 4.5p Gap Fill Target Initially
Clearly what dominates the daily chart of Servision is in the post summer period is the way that we are trading in the wake of a quadruple top for the shares through 5.5p, followed by an as yet unfilled gap to the downside in September back below the 200 day moving average of 3.94p. Adding to the gloom over the course of the autumn to date is the way that October delivered a dead cross sell signal between the 50 and 200 day moving averages.
But at least the positive on that signal is the way that since it was delivered the shares have actually showing decent signs of stability. This has taken the form of higher support for November and December to date, with the recovery of the 50 day moving average of 3.06p particularly helpful. Indeed, the view currently is the while there is no end of day close back below the 50 day line, one would expect to see the September gap filled up to the 4.5p level over the next month or so. In the meantime any dips towards the 50 day moving average can be regarded as buying opportunities.
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