The high volume day (912,000) on 20/04 was halted at the median line. Subsequent attempts to stay above that line and move higher failed. The narrow trading range of $1.98c.- $2.02c. in the first 2 hours on 13/05 suggested a breakout was imminent.
The high volume day (1,100,000), and long red candle, on 19/05 was an ominous warning of further weakness. The failed test of the lower median line, and closing price, on 20/15 was confirmation.
Expect a test of the trigger line @ $1.56c .level this week.
Keep in mind this is an 8 YEAR trend line that will be tested at this price point.
Again, just my whimsical interpretation.
SMN Price at posting:
$1.76 Sentiment: Hold Disclosure: Held
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