Wednesday, August 7, 2013

Swing Media (technical)

Swing Media: the technical indicators suggest bearishness in the near term, with the RSI dipping below the neutral 50 level, and MACD just initiating a negative cross over. Continuation of the negative momentum could see the stock test the $0.11 support once more. May revise toward a more positive view, if the counter turns up and breaks above the $0.12 resistance (confluence of the key moving averages). No clear longer term outlook given the large stock volatility over the past 12 mths, and range bound trading (btwn $0.11 - $0.14) since Mar '13.

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