SMPH is knocking on the 61.8% Fibonacci Retracement level

SMPH is knocking on the 61.8% Fibonacci Retracement level which is our resistance at this point the whole week. Will it finally be broken this week? Interestingly we are seeing a Doji candlestick on our weekly chart after the big drop. This shows that bearish sentiment is dissipating and a reversal may happen. But just be careful because Dojis are not a strong reversal indicator.

Caveat!

2 Responses to SMPH is knocking on the 61.8% Fibonacci Retracement level

  1. […] may happen. But just be careful because Dojis are not a strong reversal indicator. Caveat! SMPH is knocking on the 61.8% Fibonacci Retracement level Reply With […]

  2. […] SMPH was knocking on the 61.8% Fibonacci Retracement level and today it finally broke it with a good rally. It even close above the 50% Fibonacci Retracement […]

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