Too many threats for SMPH?
After almost hitting the Kijun Sen line on weekly chart at 16.86 per share, SMPH slowed down and moved sideways. Currently we have a threat from the gap, the Kijun Sen line and the flat Kumo. In case SMPH will not be able to break its current resistance then we might see it fall, first to fill the gap.
Ichimoku elements are still in a bullish setup but based on the 3 things we mentioned, it looks like the dip is not an opportunity to buy for now.
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