Sports Entertainment Acquisition (SEAH) : "Never bet against this stock," said Jim Cramer replying to a caller during Friday night's Lightning Round segment of Mad Money. Let's check out a couple charts of the newly organized blank check company.
In this daily Japanese candlestick chart of SEAH, below, we can see that within a sideways trading range from December we can see a firming trend from late April. Prices are trading above the 20-day and 50-day moving average lines.
The On-Balance-Volume (OBV) line shows strength from late April and the Moving Average Convergence Divergence (MACD) oscillator is just above the zero line in bullish territory.
In this daily Point and Figure chart of SEAH, below, we can see an upside price target in the $12 area.
Bottom line strategy: We don't have a lot of trading history with SEAH but the charts and indicators are constructive.
