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Big Tuna's Stocks
Posted On: 01/12/2014 5:47:04 PM
Post# of 2561
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Posted By: Big Tuna
Re: getmoreshares #972
Hello Getmoreshares. Without knowing anything about SKTO, just by looking at the chart and the move on Wednesday, my guess is that this is yet another marijuana play. It's tough to get much of a read as the stock is coming off a huge one day spike. As with every stock that trades too far outside the upper bollie, there was only one way for the stock to go from that point, down and back inside the bollie. It found some support on Friday at the MA7 and bounced up but still closed under the MA200. Barring any major news, I would be looking for the stock to consolidate at these levels at best. The call a couple of weeks ago would have been easy as the FullSto and MACDs were coming off their bottoms and crossed over to the positive. The resistance at the MA50 and 100 was the next level that SKTO needed to break above. That occurred with a close on Tuesday. Again, I'm guessing this is a pot stock, as they all had tremendous days after Colorado approved the State going to pot. For now though, the stock is in no man's land. She could go either way. Wished I had more to offer, sorry.




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