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New Downtrend appears for SCM after 0.73% move
On Tuesday, June 23rd, SCM moved up 0.73% while volume increased to 1.4× the usual levels. Multiple bearish signals emerged — New Downtrend and Lower Bollinger Band Walk — suggesting potential weakness ahead. Key support levels exist at 8.17, 8.04 & 7.91, with resistance at 8.42, 8.55 & 8.68. Slow Stochastic readings suggest the stock is currently oversold.
Current SwingTradeBot Technical Rating of SCM: F
There’s more where that came from. See all of today’s signals for SCM here.
Read full article here »