Couple of different charts to try and make sense of what may be happening here, both hourlies
Zoomed out, the first chart clearly shows that SP has got back to the highs in 2024.
Its tried to breach and failed, so far.
It could be viewed as a massive cup formation, inwhich case, the handle may be forming around all this churn between 29 and 32.
There are clearly parties exiting the stock. A recent Top 20 would be interesting. By the same token there are clearly parties buying up that stock.
On this chart, volume profile to the right suggests to me this can move higher, once the sellers ammo is done.
Zoomed in
Clearly bigger volume per right hand side volume profile here showing the tug of war going on, But I think it might be about t go higher because we have a tug of war last several days now and price has not dropped appreciably in that time.
If that 32c wall goes, then we are heading into the 40's, IMO.
