Thread by @malteseinvest

Analysis: #NYSE: #SWN

Case 15 #SouthwesternEnergy Company

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

Thread 👇👇👇

1/6

An ugly stock that has been in free fall since May 2014. The loss of monthly support @ $28.00 helped accelerate the downside. Resistances are very strong and the all time lows approximately $0.56 appears close. .......

2/6

....... Some fragile support appears into around 1.75-1.55 and then a much stronger area 1.15, 0.85 and then 0.67-0.53.

3/6

Chart 1
Daily Chart: Multiple #Fibs drawn. #Resistances along the way up are very pronounced. Long term TL #pivot resistance and support are visible.

4/6

Chart 2
Daily Chart: Strong areas of resistance are marked. The SMA 20 & 50 show support to be currently placed at 1.95 and 1.9328. A strong close below the latter will target 1.77 and then 1.56 - August 2019 low. This level appears unreliable. Below that TL pivot at 1.40.

5/6

Chart 3
Daily Chart: A loss support at the #SMA 50 targets further downside. Strong support is in the area 0.85, 0.67 and 0.53. There's no #strategy - best thing is to wait to see how price reacts next to the support areas and then take it from there.

6/6