Scales Corporation Limited (SCL.NZX)

13 December 2017

Technical Summary: Since its IPO the stock of SCL has been on a long term uptrend. For most of the year the stock has traded in a base and has been ranging between around $3.20 and $3.60 per share. More recently the stock found its way to a new highs before forming a short base. The stock then rallied into its earnings result before a big move to all time highs. This can only be described as positive for the stock. Despite this it sits overextended at the current juncture. We would like to see some consolidation or a short pull back for the stock to setup as buyable. For those holding the stock there is no reason to sell here unless taking profits for personal or

Excellent chart from SCL

Do You Want Daily Market Insights?

If you’re interested in staying up-to-date with the latest news and analysis on stocks, be sure to sign up to BlackBull Research.

1 Month Free Trial

Access our expert stock market research Free of charge with no obligation

Free 1 Month Free Trial

Unlock this article & access our expert stock market research

ASX, NZX & USD Stock Buy, Hold, Sell recommendations. Model Portfolios. Daily news and more

[pmpro_checkout]