Markets look mixed today as treasury yields continue to rise. I will be cautiously watching some new names for trade opportunities.
PBI - MACD crossed a few days ago and yesterday's candle tested the .23 fib level before pulling back.
The proximity to the 9 & 20 EMAs in addition to the POC (Feb 1.) makes this a low risk entry point. Also, fundamentally with value becoming more popular in recent weeks this onemay have room to make a prolonged run to recent highs.
Resistance possible at $9.94
MACD is crossing and the current price is nearly 27% bellow the POC line. I feel this is very oversold and will pop to recent highs.
Support $1.30 First target $2.12
SVRA - The price took out 5 fibonacci levels (.61, .78, 1, 1.61, 2.61) yesterday with the candle gapping up big. It managed to break thru the descending weekly trend line to close just under the .78 level.
Also watching: IVR, SIFY, CSLT, CVM, SXC, NLST