SNWT Poised to Repeat Major Breakout
San West, Inc. (OTCBB: SNWT) Volume Alert: Watch for Breakout
SNWT has been trading well above its 10-Day Average for the last few trading sessions, indicating many traders are accumulating and holding the stock.
Plus, with the Money Flow entering at is historical high and share prices moving north overall, the stock has trended in a general upward direction.
If the stock's trading history repeats itself - which I believe it could - then today's activity was a session of healthy profit taking and investors should look for a return to the upside. That event could generate gains that exceed 25%...50%...even possibly 75% which is something that SNWT has already experienced when trading in one of its bull runs.
In fact, during its first bull run SNWT ran from $0.20...which is the are it is trading in now... to an intraday high of $1.70 for a staggering 750% gain.
If the stock's trading history repeats itself - which I believe it could - then today's activity was a session of healthy profit taking and investors should look for a return to the upside. That event could generate gains that exceed 25%...50%...even possibly 75% which is something that SNWT has already experienced when trading in one of its bull runs.
In fact, during its first bull run SNWT ran from $0.20...which is the are it is trading in now... to an intraday high of $1.70 for a staggering 750% gain.
Below are some notes and compensated opinions drawn from experienced technical chartists ...
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San West, Inc. (OTCBB: SNWT) proved to be a profitable stock for many investors for many weeks during its first major bull run..
The symbol is now poised to go on another run upwards towards much higher split-adjusted share prices.
Below is a summary of the last bull run that SNWT made. The Symbol is displaying the same type of ACCUMULATION patterns as it did before its previous massive uptick.
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By definition, Growth Stocks are those whose shares are being traded above both their 50-day and 200-day moving averages.
SNWT is a Growth Stock and could be a profitable trade idea so staggering that it ranks as one of my #1 best picks this year.
So, watch for solid buy side activity because:
(1) Technically speaking, the chart suggests that a rebound is poised to push shares to the upside. It appears that it could repeat its run and has been overall trending upwards following the announcement of a consulting agreement with a nationally based, NY Investor Relations firm to develop and implement a strategic investor awareness campaign.
(2) The Company announced that they were poised for additional sales and exposure heading into the season's largest event that includes an event hosting 250,000 people. In addition, SNWT announced yesterday that it will appear on "The Price is Right" which is America's longest-running and highest-rated game show in history.
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Buzz has been picking up and is very positive.
Hence, it appears that it's about to make another surge northbound.
Below is a chart that discusses a Flag Chart Pattern which the stock entered last week. This could help traders understand how SNWT made its bounce from around $0.13 to the $0.20s and how the symbol could make a move prominent move to much higher levels.
Flags and Pennants are short-term continuation patterns that mark a small consolidation before the previous move resumes.
These patterns are often preceded by a sharp advance with heavy volume , and mark a mid-point of the move.
These patterns are often preceded by a sharp advance with heavy volume , and mark a mid-point of the move.
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Below is a more updated chart that traders could utilize as a more recent benchmark for technical purposes...
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Below is a more updated chart that traders could utilize as a more recent benchmark for technical purposes...
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Look for heavy ACCUMULATION on SNWT.
Keep SNWT on your trading telescope and watch it trade!
Best Regards,
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