Seg

[bunkum]

SEG - SCi Entertainment Ltd

As you know I am not a chartist but find your guys research fascinating, could you please give me your latest views on SEG. On my research SEG is an easy 20 bagger on a 2 - 3 year view, but needs a kick start, which could well come initialy through a chart breakout.

All views will be appreciated good or bad.

Cheers

Chris

 

[darth trader]

Chris,

just a short response as I'm at work. I'm sure others will add comments in due course.

SEG has been in a downtrend and obviously had a bad time in january. It may be forming a double bottom at the moment and getting ready to break out BUT there is no sign of the increased volume that needs to be there to sustain upward movement and the market is still basically moving down.

I would be wary about "investing" in SEG at the moment what ever their long term "value". They may yet be available at a lower price and until there is a confirmed breakout "let the trend be your friend".

 

[darth trader]

Just another thought.

With stocks like this that have been beaten by the markets there are a lot a people out there holding shares on which they have made a signficant loss.

They will be waiting for the price to rise just so that they can get their money back (for which they will be very thankful).

It is this process that leads to old support levels becoming new resistance levels as the price rises.

I will be looking for shares that are making new highs
as the market turns.

 

[bunkum]

Cheers Darth,

What are your thoughts now?, do we have break out

Chris

 

[Sparky]

Just on TA alone.

SEG, has broken out of a short term channel, suggesting a move up is likely.It has been forming a short term bottom, although of course still very much in its overall downtrend, it is impossible at the stage to determine wether this stock has reached its floor, however at this stage the indication is bullish short term.With key indicators pointing to the plus side and more importantly the price breakout indicating a positive move, this stock looks as a possible short term buy, but be carefull any retracement to below 71p then look to get out as the downside could still be great, next support around 58p.
This is my view only, looking at SEG today from a chart perspective only and taking a short term trading view.

 

[Max Damage]

Cheers Sparky

I am in very long term having paid 60p 3 years ago and selling some on the way up and buying some at 330p in the rights. I have substantially increaced my holding sub 80p an sub 70p as the long term is looking strong with recent news in the consumer magazines on SCi's upcoming products. Especially The Italian Job which is gettin very strong exposure in OPM and strong exposure in OPM often results in very strong sales for a game

 

[darth trader]

Yes it's too early to say if it's a break out but there is certainly movement.

Watch for support/resistance at 96.5p pence (the recent high) and 78.5p (yesterdays gap up).

Good luck.