I thought that a chart thread should have at least have some charts.
Reluctantly, because the daily chart is bearish.
On the chart you can see 2 FIB's Green and Red.
* Green FIB A-wave 33 -78.5 as you can see the SP retrace has already gone beyond the 61% retracement FIB. For me that 61-78% zone is DCB country. The zone 78-100 is Full DCB country. Bearish
* Red downward FIB, A-wave 78.5 - 53, followed by a B-wave bounce to 70, that bounce went beyond the 61% (red) bounce FIB. Then went below 53 so into the C-wave downward extention with 3 potential target zones. 1st target zone between the red 23-38% extention FIB 2nd target zone between the rec 38-50% extention FIB 3rd target zone beyond the 50% FIB
* As you can see the MACD has been negative for 9 days and the RSI(5) has been in bearish country for the same period.
Boeing need to get off their butt for things to turn around.
DYOR
cheers Lies
PS not a lot of joy to be seen in the weekly chart either.
SMN Price at posting:
49.5¢ Sentiment: Hold Disclosure: Held
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