Weekly: Looks like SMPH is following an upward channel with the dip this week considered as another higher low. Will it bounce from here and reach the resistance level (upper slope)? Note also that the candlestick created is identical to the candlestick on the previous higher low. The cross of Tenkan Sen / Kijun Sen gives additional bullish sentiment although it is a bit weak as it happen inside the Kumo. It is called Neutral Bullish Signal. Daily: No Ichimoku element is showing any bullish signal as of this time and none from the japanese candlestick as well. For those who want to have a fresh entry, it would be best to wait for some signals. RSI or Relative Strength Index is coming from the oversold level and is now pointing upwards. Caveat! traderslogbook/smph-moving-inside-the-upward-channel/
Posted on: Sun, 01 Dec 2013 11:48:46 +0000
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