Hi Chad, my thinking, for what it is worth, is that for most of 2021 SP support was around 4.20 to 4.35 or so. Now it appears that 2021 support is now resistance. That seems like a common phenomenon. When a stock falls well below support- it does not bounce back seamlessly into its previous range.
Is it because there are many punters who bought in this year are happy to take profits around $2.20? Is it that punters who bought in around previous support are now happy to just get their money back?
I am holding patiently. SGP will be in position A for the next residential uptick.
IMHO DYOR
SGP Price at posting:
$4.21 Sentiment: Buy Disclosure: Held
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