SE

Sea Limited: technical analysis

The stock is in a correction after a new high, with potential for accumulation in a support range.

By the SpyStocks desk · 4y ago · 1 min read

Part B: $SE technical analysis - The stock has been in an ascending channel for a long time.

It can be observed that on 12.10 the stock was supported by a diagonal support line and from there rose to a new high (369-371).

From that point the stock is undergoing profit taking and is currently in the middle of a correction that reached Fibonacci 50.

We have included Bollinger Bands - one can see a crossing of the upper Bollinger line and from there the stock has been undergoing profit taking for several days.

In our estimation: The stock could drop to $333-$328 (ascending channel support). If it reaches the aforementioned price range and finds support - in our estimation, it will be a good point for accumulation.

The above does not constitute a recommendation to act, anyone using the channel's content does so at their own personal risk.

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