StockWireNews
Technical Update: (Nasdaq: SFWL) Needs Immediate Attention (Low Float Idea On Breakout Bounce/Reversal Watch)
December 22nd
Greetings Readers,
Is a major bounce/reversal underway for SFWL? Here's what to focus on.
First off, oversold technical indicators. Barchart is reporting a bunch of them for SFWL.
In fact, going into today's opening bell, the website was reporting 9-Day and 14-Day Relative Strength Indexes below 25%.
That can be a major signal that a profile is oversold and potentially undervalued.
Don't forget. This is a low float idea with fewer than 7Mn shares in its float according to Yahoo Finance.
Also, it's important to note. SFWL made a volatile movement all the way to $5.00+ yesterday.
That's not to say the same thing is going to happen today, but the explosive move is too important not to make note of.
Drop what you're doing and get SFWL on your screen right now. Check out my initial report below as soon as you can.
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Look at that!
Back to back, we've delivered a couple of short term stunners.
Most recently, my NYSE American alert climbed from a Friday close of $.2772 to a Monday high of $.3488.
That surge resulted in a blast of approximately 25%!
Before that? A breakout short term runner of approximately 24%!
Now? A new breakout idea. And one that needs to be on your radar immediately.
This one will need to be watched closely for one main reason above all others: volatility.
Volatility can appear when a profile has a very small amount of shares in its float.
With low float profiles, the slightest potential catalyst can be amplified by volatility to draw significant buzz from across the markets.
And with a float of fewer than 7Mn shares, what could this Nasdaq idea have up its sleeve?
Oh... On top of being a low float profile, this could be the mega-bounce idea of 2023.
With multiple technical indicators pointing towards this profile hovering in oversold territory, a healthy reversal could turn this breakout idea into a true head-turner.
How about income growth of over 150+% year over year? Yup, this profile has a bit of that, too!
Drop what you're doing and pull up:
*Shengfeng Development Limited (Nasdaq: SFWL)*
Shengfeng Development Limited is a contract logistics company.
Established in 2001, the Company has developed extensive and reliable transportation networks in China, covering 341 cities across 31 provinces, as of June 30, 2023.
They provide integrated logistics solutions comprising B2B freight transportation services, cloud storage services, and value-added services.
And right now...
SFWL has 3 key potential catalysts to know before we go any further:
#1. A low float of fewer than 7Mn shares means volatility needs to be on watch.
#2. Income surge of over 150% year-over-year may have flown below the radar.
#3. Key technical indicators move to oversold levels (reversal potential could be growing significantly).
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Key Details Of Focus - Unraveling SFWL's Potential Breakout Catalysts
#1. SFWL has a low float under 7Mn shares!
That's right, SFWL is on volatility watch.
Because of it having roughly 6.67Mn shares in its float according to Yahoo Finance, volatility could appear at the drop of a hat with SFWL.
From Tuesday's $2.29 low, SFWL has already displayed the ability to explode 2X to Thursday's high of $5.10.
That's a run of 122% in a blink!
And with a 52-week high over $17.00, there could be a ton of upside potential from current levels.
Now, that isn't to say SFWL will surge to any previous highs, but the potential upside is too great not to note.
#2. SFWL's income erupts in awesome triple-digit explosion!
Recently announced, the company had some huge financial news:
