New TA/Charting, page-13819

"looking for a bottom and a turnaround"
In the weekly chart it isn't quite as clear yet, because we have only 3 CS to base something on, however they are bullish CS and suggesting a bottom and a possible turnaround.
Firstly there was a Bullish Hammer CS indicating the possible bottom and suggesting a possible reversal of the trend. This CS in combination with the previous one is forming a Bullish Homing Pigeon CS pattern again suggesting reversal. This week CS in combination with Hammer CS formed a Bullish Engulfing CS pattern. Even though this pattern as per normal needs bullish confirmation, IMCO the sign are positive and in line with what I already have shown in the daily chart. That all of this is happening around the Fib 61.8% retracement level, a quite common retracement level, I feel gives further encouragement. The breakout out of the descending channel gives me a chance to project a nearer term target a $1.555, which in the daily chart represents a resistance level and the top of the accumulation channel I indicated - so it probably will show its importance and power right there, as it has in the past.

If over time SP can manage to do a breakout here, there are further resistance levels as well as possible target levels (Fib Ratio levels) within the ascending channel indicated.These target levels will require good news from the FA side of things and at this stage reach well into the time frame suggested for production.
The next question is also if SP, over time, could catch up with the original ascending channel which it fell out of. It does happen however it wouldn't be where I would want to speculate on at this stage.
Obviously the following chart, even though based on rules based TA, looking into the future is highly speculative and should only be taken as my personal views!

LOL Here is my normal disclaimer as it applies to all my charts: