Here’s what I see on Sea Limited $SE – November 27, 2024
This is Scott McGregor at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. I want to bring your attention back to Sea Limited ( NYSE: SE ).
I think I covered this stock a couple of weeks ago and it is still working well. It’s in a well-defined uptrend and above all the major moving averages. The last couple of days have been a bit whippy. We’ve seen a bit of selling here but it gapped up and pulled right back to the 8-day. We know the 8-day exponential period moving average is pretty clear short-term support.
The last couple of days we’ve seen the volume drop off here so that’s interesting. Maybe we’re getting ready for a potential move higher on this stock with a break above 118.00. I would definitely set an alert here at around 118.00 and then look for a strong move through that level, coming on volume.
Because the volume is dropping off and the stock is just going sideways, I probably wouldn’t front-run this move. But I would have that alert ready to go, and then look at the volume. And if the volume confirms that the stock can get above and stay above, then I think the stock could be actionable. That’s what I see on Sea ( NYSE: SE ).
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