SMPH: Kijun Sen supporting the price

SMPH has been sleeping while a lot of its peers are already running up and some are already overbought. Will this sleeping giant wake up soon? Based on our chart, the Kijun Sen has been protecting the price not to go down for four days now after the weak bullish signal from Kijun Sen cross. So far the weekly Kijun Sen line is still moving at 16.86 where we have been speculating that price will be attracted towards that line. Our resistance is at 15.40 or the 23.6% Fibonacci Retracement level in case this will go up.

It is very important that the weekly Kijun Sen will not change and for 14.81 on daily will hold. RSI or Relative Strength Index is at 51.

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.

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