+ 2.58
+ 0.78%
+ 2.29
+ 0.66%
+ 2.93
+ 0.7%
+ 1.55
+ 0.91%

Sino-Global Rallies: Technical Levels To Watch

March 17, 2021 3:42 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Sino-Global Rallies: Technical Levels To Watch

Sino-Global Shipping America Ltd. (NASDAQ:SINO) shares were trading 20% higher ahead of the close Wednesday, and the stock was the top trending equity on StockTwits at one point Wednesday.


Sino-Global Short-Term Chart Analysis: The 5-minute chart above shows the stock looks to be forming a “bullish flag“ pattern, as technical traders may call it. The bullish flag pattern happens after a run up when the stock consolidates before possibly moving higher. 

A bullish trader would like to see the stock break out past the top line of the channel before possibly going higher. Bearish traders would like to see the stock drop below the bottom line of the channel before possibly making a stronger downward move.

The stock is trading higher than both the 200-day moving average (blue) and the volume-weighted average price (pink) giving it short-term bullish sentiment. These indicators may possibly hold as a support in the short term.


Sino-Global Daily Chart Analysis: The daily chart above shows the stock has been trading in a channel between the prices of $4 and $11.

$4 was previously a resistance level the stock was unable to cross multiple times. Once this level was crossed, the stock was able to bounce at this level for support.

The stock has previously been unable to cross the $11 mark for any extended period of time. Resistance may be found here in the future.

Bulls would like to see the $11 mark crossed with consolidation before the price might move higher. Bears would like to see the stock fall to support before the price may move lower.

Sino-Global Price Action: The market cap of the stock is trading at $86 million with a public float of 12.8 million shares. At last check, the stock was trading 20.43% higher at $8.37. 

Related Articles

15 Bitcoin Stocks To Watch On Tesla News

On Monday, one of the most followed companies in the world sent the value of Bitcoin price higher after a $1.5 billion investment in the cryptocurrency was unveiled. read more

Benzinga's Microcap Movers for Wednesday April 11, 2012