SMN - Chart, page-214

I have been observing SMN lately  and had a couple attempts to  buy but then get stopped out. It is frustrating.  I am inclined to speculate  a spike down to $1.90 level ( worst case $1.75)  before  the  next up move could be a possibility.  The latest repeating range doesn't behave as the other two in that once the bottom of the range was reached the next week is a decisive reversal candle  as  the weekly chart shows.  This time the down  range extended beyond the previous two  as well as it contains 6 down  weekly candles where the other two down ranges had respectively 2 and 4 down  weekly candles .  The downward force/thrust this time is more intense. The last three weekly candles have long  upper tails  showing supply.  After the previous two down ranges the share price meander sideways for 6 to 8 weeks before the start of the next major uptrend. Another view is if price stays above $2 level then perhaps we still have a period of consolidation ahead to go.  If no major breaking news of a positive is received before year end then I cant foresee a major trend reversal until early 2017.  I would love  to be convinced otherwise as I am keen to get back in but not while the share price is showing little strength. GLTA