SGR Charting Thread 2024, page-24

Price action showing good intent as it tests the 53c resistance level.  MACD positive cross being triggered with this move.  Last Friday's action where 56mil were done (41mil after market in a single line), seems to be the end of the recent sell side pressure that arose post the push to 58.5c recently.




Zooming out for some perspective, we can see that the broader down trend on the daily had been broken and that a consolidation phase was being entered into. Since the consolidation phase began we have seen higher high and higher lows, which will be confirmed by a move north of 58.5c in the short term.



Looking at the weekly for further context of the broader setup, a close above 52c would be the highest weekly close for the stock over the last 9 weeks. Tells me price action is wanting to head higher. Iam very encouraged by the oversold RSI readings for both medium (weekly) and longer (monthly) charts. A breakout of these zones on these timeframes will see a sustained and large mover higher in the share price.