SD psar bull signal

Sandridge Energy (SD), a natural gas exploration company, is showing a psar bull signal and trading 2% above Thursday's close. At $8.17 the stock is trading at a significant resistance level set in early 2009.

The pps and macd moved into bull mode on Thursday, and the sto kicked into overbought territory, a bullish sign until it reverses back into the neutral zone.


The adx is 26, a level that's  a bit too low for my taste. SD has shown itself prone to psar whipsaws on occasion.

SD saw a decline from $11.08 on Jan. 11 down to $7.24 on March 4.

You are here:

• Resistance
• $11.08, +35.6%
• $10.58, +29.5%
• $9.96, +21.9%
• $9.25, +13.2%
• $8.75, +7.1%
• Now $8.17
• Support
• $7.39, -9.6%
• $7.24, -11.4%

 There's good room to the upside -- 7% would make me quite happy even without leverage. However, support is also a good distance away. And it is minerals, which are prone to strange news surprises.

Abbreviations:

psar - Parabolic Stop and Reverse
adx - Average Directional Index
pps - Person's Proprietary Signal
ma20 - 20-day moving average
macd - Moving Average Convergence-Divergence
mfi - Money Flow Index
sto - Fast Stochastic