irresistables: SCYX

the most convincing thing on this chart of today's action is the uptrend from the triangle at 3 o'clock. a break above that and then a price back near it tomorrow would make for an interesting buying moment. of course this is all highly speculative and would require watching the stock during the day, tomorrow and the day after. certainly prices are holding above today's major trendline, and even above the late afternoon descending trendline ... but, is that enough? the risk is only 5% or so, on a $100 trade, but several 5% losses would be annoying. and these are down sloping stops. not so good.

the weekly chart is definitely intriguing, and boy is it blasting off, here. i guess my concern is - a), is this just too much, but that's what i'm saying is speculative - but, b) could it shoot down to the trend line, here, however briefly? do i want to try to use a stop, here? i hate stops! definitely i'm not buying any large amount here. and, if i am buying at the current price, maybe it can only be justified, even for a small amount, with a stop. still thinking.

i'm just seeing how powerful the down trending line above yesterday's tops looks now. it could be used as a fairly close stop, buying here. it's descending, though, so its usefulness as a stop declines with the passage of time. also, at the moment, the trend is down, for the day, so a break lower is on that count somewhat likely. a 15 minute low above the down trending line across today's tops - the lower ones - would be a buy signal, with that line becoming the stop, but that line is descending, too. there is the suggestion of a rising line across the last bottom in today's 15 minute chart and the bottom of the final bar, though. a fifteen minute high below that would be the stop, and this line is rising, so the stop will get closer with time. could be interesting if prices work their way into the point of one of these wedges ... tomorrow.

$SCYX let me put it this way: if this rally holds up it should carry fast to 12, more properly 14. just not sure how to buy it at this level
— Tom Sunderland (@atnbg) Oct. 6 at 03:54 PM