Finance

Here’s A Quick Technical Analysis Of Sanchez Energy Corporation (NYSE:SN)

Sanchez Energy Corporation (NYSE:SN) fell by -0.81% in Thursday’s trading session from $4.96 to $4.92. The price has been moving in both directions for this period, and there has been a 8.13% gain over 10-day period. Volume has increased in Thursday’s trading session by 1.15 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 5.43 M shares exchanged hands for about $26.73 million.

Inside SN’s Recent Trend

Sanchez Energy Corporation (SN) lies the upper part of a very wide and falling trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break down through the support point at $4.98 will initially suggest a lower tendency for declines in the price and this might very well be an early sign that a trend shift is coming. Short-term traders are anticipated to see a retreat of -34.19% over the course of a quarter and, with 90% chance the price will be floating in the range of $1.97 and $3.28 in this timeframe.

Sanchez Energy Corporation Technical Signals



SN has witnessed its long term and short term MA triggering a buy signal. Many traders watch for short-term averages to cross above long-term averages to signal the beginning of a uptrend. Upon corrections, the price will meet support from the averages between $4.80 and $4.58. A break down through these support points will trigger sell signals. Some other technical concerns emerged as well, putting in risk the future growth of the stock in the next couple of days. Its pivot point high generated sell signal on Wednesday September 27, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume up and price depreciating is getting our attention as this movement is seen as bearish sign.

Sanchez Energy Corporation (NYSE:SN) Support And Resistance Levels

In case of pullback, the next support the price will capture from accumulated volume will not be far away from current price at $4.66 and $4.60. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $5.13, $5.44 and $5.62.




It is important to note, however, that the stock needs to make its way through natural risk while testing a key support level. Once this support is broken, another support level will be to be established at a lower level. Turning back to this stock, Sanchez Energy Corporation approaches the first support point just current price at $4.66. In case of a break, the next support we will see from accumulated volume is going to be at $4.60 and $4.47. Accumulated volume is going to prevent the price from rising further at $5.13 and this action will lead the price to take a temporary pause or stay muted for a few days.

Sanchez Energy Corporation (SN) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.41 between high and low, or 8.49%. The average volatility for the past week stood at 6.76%.

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