Stock in Focus: Semirara Mining (SCC)

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Semirara Mining Corporation (stock symbol: SCC) ended the year just below 290, not far from the 2013 double top printed last May and November right above the 300 psychological level. So far, the support around 270-280 (black horizontal line on the chart) has held nicely for a little over two months. Bulls are quite confident that their teamwork would win should price get pass this near-term support area.

The Relative Strength Index (RSI) indicator is wandering just above the 50 level, after following price as it bounced from the December lows.

Despite the bullish tone, price is wandering a little aimlessly right now, so I will wait for more action to figure out the near-term price direction.

(Click here to view the original image)

SCC Daily chart, December 27

SCC Daily chart, December 27

 

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