SMPH may choose to follow the Triangle formation

SMPH may cut short its journey inside the downward channel if it will continue to bounce and broke from the slope. SMPH went up by 1.8% today showing some bullishness. There is a possibility that price will continue to rise and hit the Kijun Sen at 14.84 and from there if the bulls are still strong it may test the resistance which has been tested three times already. The weekly Kijun Sen at 16.86 is still there and as long as it will not bend, the power to attract the price is still strong.

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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