SMPH has awaken

SMPH broke from the triangle and continue to move up and reach the 23.6% Fibonacci Retracement level. SMPH has been consolidating inside the triangle for so long. Will it still have the energy to move to the next level? I think SMPH will be able to reach around 15.41 – 15.52 before it will correct. The range is based on the daily and weekly chart. In case price will correct at this time, I think 14.98 will be strong enough to support the price. If a bearish candlestick will soon form somewhere near the 15.52 area then the flat top Kumo may pull the price back to earth.

By the way, Kijun Sen line is still moving horizontally at 16.86 (weekly chart).

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.

8 Responses to SMPH has awaken

  1. Sir anung charting software nyo? Interested ako sa ichimoku system.

  2. Felix T. Gomez Jr. says:

    amibroker ang gamit ko

  3. Felix T. Gomez Jr. says:

    update: has reached the 15.41 – 15.52 area. From here we will watch whether a bearish candlestick formation will appear tomorrow.

  4. Vero Gines says:

    hanggang saan kaya ang itataas nito bago mag-correct? thanks

  5. Felix T. Gomez Jr. says:

    @vero gines possible 16.86 where the kijun sen line is on weekly chart. Until indicators will not change, it will hit the mark. Monitor lang

  6. Vero Gines says:

    Felix T. Gomez Jr. slight correction lang ba yan ngayon or bearish na sya? thanks

  7. Felix T. Gomez Jr. says:

    Vero Gines thats just a correction 15.18 pa ang support in case it will fall

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