SMPH: Fill the gap or retrace?

SMPH have gone up from below 14.64 last August 28 up to 16.76 today. So far it closes at the high of the day but at the same time it is near our resistance lines. First we have our 61.8% Fibonacci Retracement level then our 20-day SMA line which is the most common resistance line nowadays. We could also notice that SMPH is creating a downward channel where our price is currently at the higher end (upper slope) Could this mean a pull back for the stock? Interestingly we have a gap to be filled at 16.90 to 17.68 Looks like we still have a bullish bias but time to take extra care.

Caveat!

2 Responses to SMPH: Fill the gap or retrace?

  1. […] at 16.90 to 17.68 Looks like we still have a bullish bias but time to take extra care. Caveat! SMPH: Fill the gap or retrace? Reply With […]

  2. Ver Toring says:

    my conviction is breakout soon…..

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