SM may touch Kijun Sen

SM has been moving sideways for quite sometime now but we are seeing a possible spike to 773 as Kijun Sen on weekly chart moves at this level. RSI or Relative Strength Index is below overbought level. As of now SM is still in a downward trend based on Ichimoku system with Tenkan Sen moving below the Kijun Sen and Chikou Span is moving below the price so if you can ride on the spike it would be best to protect your profit. Unless a bullish signal from any element will come out.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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