Shares & Derivatives
Will SEA Limited (NYSE:SE) continue to break new lows?
By Dr Wealth  •  October 25, 2022
The glory days of SEA Limited (NYSE:SE) are over. The once-star stock of the market is now nothing but every short seller’s favorite trade. Currently, SE is trading at pre-pandemic having erased 2 years of gains just this year alone. From a TA perspective, the price action of SE has failed to hold any of its previous support levels right up till now where the range of $30-$50 was where the stock found its support back in 2019. In my perspective, the risk to reward at this point does seem to warrant some consideration given that the stock has retraced about 90% from its all-time highs to its present price of $45. However, even at 90% off its highs, there are still significant headwinds facing SEA Limited. While I will be covering what management has done/will be doing, so long as macroeconomic conditions remain status quo, it is likely that we will see more sideways trading in the days ahead....
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By Dr Wealth
Dr Wealth provides trusted financial education to individuals. We teach researched and actionable investment methods so that our graduates are successful in their investment journey and achieve market-beating returns.
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