Had we looked closer, the weekly chart was telling a story..
* SInce the low hit in mid-July, the price has been in a close channel and since then.. we can see bullish divergence on RSI with rising lows while the price kept at the same level. SIgnalling accumulation. * The price volume analysis also paint the same picture.. See the volume thinning out in middle and starting to pick up in last few weeks. * What we just saw this week, and more evident on a daily chart..is the flush with that candle just hitting below the lowest low since July with heavy volume. * Now what will confirm all this ? The price should NOT CLOSE below 0.160 for the next few weeks. Touch and go like this week is OK..but not a close...
Enjoy..and tread carefully in this highly speculative stock.
SPN Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)