SMPH emerged from the Kumo

SMPH advanced by 3.09% today breaking away from the Kumo or Cloud which is a bullish signal. Notice also that we have a strong bullish signal from Tenkan Sen/Kijun Sen Cross. Our Chikou Span doesn’t confirm this bullishness for now as price is higher 26 periods ago from today’s price. But it’s just 1 fluctuation though.

Notice that RSI or Relative Strength Index is now at 63 and is approaching 70 level. Based on one year time frame, SMPH was able to reach as high as 95 but most of the time it retraces when it reach around 70.

Immediate support will be the Kumo and the Kijun Sen line

Caveat!

One Response to SMPH emerged from the Kumo

  1. Christopher Lapinid says:

    macd also signals strong bullishness

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