[isatrader]

A quick follow up post on SENS from last nights watchlist post. SENS had another strong day to close the week just off it's highs with 3.95x the 200 day average volume. So it made a Stage 2 breakout imo closing above the highs from last year on 4.69 x the 52 week average volume, and 2.16 x the 4 week average volume.

Relative performance also made at new 52 week high above a rising “zero line”, and it's well above weekly cloud resistance. So is in good shape on it own merits, meeting all four major requirements of the method.

       

However, an important part of the method is looking at the market and the sector as well. So some negatives to consider at the moment are the market; as although it didn't breakdown this week; it remains in Stage 3. So a directionless /volatile market for the time being until it breaks one way or the other again. And also the method is very concerned with the sector and subsector of the stock. So in this case that is Health Care and the subsector is Medical Equipment. Both of which are in similar shape as the market, although maybe you could argue that Medical Equipment is still in Stage 2B- as it hasn't closed below the 30 week MA yet. But there's not much difference between the two.

So there's additional risk at the moment due to the market Stage. So what would be an A+ candidate if the market and sector was in Stage 2, should be downgraded to at most a B grade candidate in this Stage 3 market and sector. So it's still tradable in my opinion, but has additional risk to consider.