Stocks that have recently indicated possible entry points according to technical indicators and currently trade within or are approaching their period of seasonal strength.Sonic Solutions (NASDAQ:SNIC)
A classic technical pattern is forming on the chart of Sonic Solutions (NASDAQ:SNIC). A cup and handle chart is a bullish continuation pattern that sees investors cashing out of an equity at previous highs following a significant downtrend (the cup), only to be met by further buying pressures following a slight pullback of the stock (the handle). Sonic Solutions (NASDAQ:SNIC) has been outperforming the market for the past few days and a breakout above $12.50 would confirm the bullish continuation pattern. Seasonal tendencies for this technology company are strongly positive through to January for average gains over the last 16 years of 34%. Fundamentals for this equity leave much to be desired, putting this equity into the high risk category, however, analysts targets are very optimistic at around $14, or around 16% higher than current levels.
Disclosure: No Positions