SMPH keeps falling after hittin the resistance

After we saw the rise of SMPH last Thursday, it has been falling since then and is currently trying to find a support.

Current candlestick does not show any bullish pattern which tells us that SMPH might continue to correct and fall back to 14.10 The possible rally to 16.86 (where Kijun Sen line on weekly chart is moving horizontally) has been compromised. Although it is still moving horizontally, it is very important to monitor this stock regularly because if the line will bend, its power to attract the price will be lost.

If tomorrow it will show some bullish candlestick pattern then it might create a higher low, if not then it will be back to 14.10 From there we will see the sentiment.


Leave a Reply