chart resistance and support

My TA analysis of the SDL chart.


For those followers of the Fibonacci retracements, when SDL broke out the SP ran up to the 50% Fib retracement level before retracing. The SP has now come back and is testing support at the 38.2% Fib level. Failure at this level of support will see the 23.6% level tested again (.33 cent level)

The next leg North, should see the 50% level broken and head toward the 61.8% level (.60 cent level). The historical trend shows little resistance at this level and hopefully will push quickly back to the previous high for a further retest.


Any thoughts?