SYF reaching for the stars..

We thought that SYF will close with a shooting star when it retrace from 0.79 to 0.765 during the midday but before closing there was a buying frenzy to push it back up. This is what you mean Bull Counter.


A lot of investor asking whether is it ok to buy now ? Here is a good question. Let check on the chart on Sept 14 2012

Indicators
1 ) Trendline - Above the bullish trendline (Bullish)
 2)  Support/Resistance - formed Higher Low  and Higher High ** ALL TIME HIGH** ( Bullish)
3) MACD -4R3G ( Bullish)
4) RSI - At Overbought and went above from 70% ( Slightly Bullish) 

 5) STO - At Overbought mode. Both indicators are kissing - Watchout for bearish crossover

6) Ichimoku - a) Above  support cloud (Bullish).
                       b) Conversion line above the base line (Bullish).
                       c) Price above the baseline ( Bullish)
7) Candlestick -3 white candle after a hammer support ( 3 White Soldier) ( Bullish)
8) Volume Distribution - Some big time investors are throwing in the morning and mostly are the retail investors who are supporting this stock during the last minute. This is a not a healthy sign.

Conclusion:
Bullish - remember to take slight profit on every resistance to protect your profit

 High Risk

Entry price if break above 0.8 but the resistance is very close at 0.83 ( Which is less that 4% profit) which is risky.

Safe Entry

Wait for Higher high formed and retrace and buy in during rebound at next support.

Next Resistance at 0.8 / 0.83/ 0.86
Support at 0.76 /0.745/ 0.73/ 0.645 / 0.62