SMPH closing the gap but may touch Kijun Sen line

One of the threats from the bears on SMPH have been realized today. The gap was filled today as SMPH went down and close at 15.78 per share but it seems the Kijun Sen line at 15.54 may still attract the price to move closer to it. In case it price will continue to move below this line, our next support will be at 14.81 where the flat Kumo is.

Ichimoku elements are still in a bullish setup. A test buy around 15.54 – 15.39 could be a good idea especially if we will see a bullish candlestick pattern near this area. So for now let us monitor the price movement. Don’t be too eager to get a piece of SMPH.

Caveat!

One Response to SMPH closing the gap but may touch Kijun Sen line

  1. I was able to sell at around 16.20 and is planning to buy back at or near the levels you mentioned in your chart. Thanks, Felix!

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