The technological sector has suffered a significant pullback. Nevertheless, $SE, belonging to it, has show nothing but strength. As most of its peers have been in a down-trend all along September, Sea Limited has had just a pullback and then starting a renued up-trend.
Supporting this, its RSI, leading indicator of strength corresponded to the movements made by a stock, has been increasing ever since its pullback at early Sepember, showing its renued up-trend is legit and backed by the buyers.
$SE has formed an interesting triangle pattern, having ascendent low prices while having descendent high prices. Today has just broken the triangle pattern upside, and the techincal target it offers us is for the stock to aim for the 180 dollars.
On top of everything, the MACD has turned green today. Indicating the stock is not only gaining srenght on its uprend, but also momentum since the 12 EMA is now above the 26 EMA, meaning its prices are heading up on the short term.
Supporting this, its RSI, leading indicator of strength corresponded to the movements made by a stock, has been increasing ever since its pullback at early Sepember, showing its renued up-trend is legit and backed by the buyers.
$SE has formed an interesting triangle pattern, having ascendent low prices while having descendent high prices. Today has just broken the triangle pattern upside, and the techincal target it offers us is for the stock to aim for the 180 dollars.
On top of everything, the MACD has turned green today. Indicating the stock is not only gaining srenght on its uprend, but also momentum since the 12 EMA is now above the 26 EMA, meaning its prices are heading up on the short term.