Sadot Group Inc. (SDOT:NASDAQ) has been kept under observation in recent days, and it now looks ready to break to the upside. On its latest 3-month chart shown below, we can see that it appears to have stabilized above an important support level after dropping back in a bullish falling Wedge pattern since late July.
Two big factors that point to a probable break to the upside soon are the fact that the price is below a still strongly rising 200-day moving average and the rapidly improving momentum (MACD), which is now trending higher.
To that, we can add that the price has pushed its nose out above the second downtrend line, with volume having become light in recent weeks and downside volume having eased off with the Accumulation line having held up well on the drop from late July.
With a tradable rally in prospect from here, Sadot is rated a Buy here, mindful of the lurking risk of a market crash later as we go deeper into the Fall.
Sadot Group's website.
Sadot Group Inc. closed at $1.02 on September 13, 2023.
Originally posted at Clivemaund.com at 9.27 am EDT on September 14, 2023
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- Sadot Group Inc. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
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Clivemaund.com Disclosures
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
