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Short term Commentary:

Seven Network Limited [mandag 13 nov. 2006]:
Buy Candidate ( 6.25)
Seven Network Limited is up by 2.33% yesterday to AUD 10.09 In the last 10 days the price of Seven Network Limited has been rising in a total of 6 out of 10 days, and is up by 9.67% over the past 2 weeks. Volume also increased last day along with the price which is positive technical sign, and in total there was traded 0,44 million more shares than the day before. In total there were bought and sold 1,02 million shares for approx. AUD 10,28 million.

About the 3 month trend:
Seven Network Limited has broken the weak rising short term trend up and even stronger raising rate are indicated. On reaction back there will be support on the roof on the current trend broken, which is AUD 9.79, a level that may pose a second chance to hit a runner.

Several positive short term signals
Seven Network Limited holds a buy signal from both the short and long term moving averages. On reactions back there will be some support around the moving average lines at AUD 9.91 and AUD 9.01. A buy signal was issued from a pivot bottom point at tor. 26 oktober 2006 and this indicates further gains until a new top pivot has been found. Seven Network Limited have increasing volume and the volume follows the today's pricelift which is positive, but Seven Network Limited may have low liquidity in periods which increases the risk. Some negative signals issued as well, and these may have some influence on the very short term development. Relative Strength Index 14 (RSI14) is 83 and is within a falling trend. This may hold the stock somewhat back and the careful investor should watch the further development of the RSI14 as it will give strong indications of what to expect further.

Support and Resistance
Seven Network Limited finds support just below today's price from accumulated volume at AUD 9.96, AUD 9.38 and AUD 9.15. There is no resistance from accumulated volume above today's level and given the right condition the stock may perform very well in the next couple of days.

Risk
This stock tends to move fast (volatility) and is therefore considered to have a high risk profile. The stock is overbought on RSI14 and holds a pivotal top point in the RSI-line. Normally this would indicate a good sales level for the very short trader, but some stocks may go long while being overbought and timing the exact exit level may not be that easy. Anyhow, overbought RSI represent increased risk as you can expect larger daily movements (volatility) and a forthcoming reaction back to gain more strength seems very likely.

Our evaluation


Our short term conclussion: Buy Candidate.

source: getagraph.com