Weak bullish signal on SMPH via Kijun Sen cross

SMPH showed some weak bullish signal via the Kijun Sen cross today as it went up by 1.4% to close at 14.86 per share. The bullishness wasn’t that strong but this is a good development from SMPH knowing that it has been going down. In case it will continue to move up and close above 15.00 then we might see Chikou Span to agree with the bullishness in short term.

e have also noticed that the Kijun Sen line on our weekly chart has started to move at 16.86. RSI or Relative Strength Index is still healthy registering below 50 so there is still move buying to come. Although this might be a big spike, the big red Cloud might be too strong for SMPH to break at this time.

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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