SPL seems to have gone through a major change in the last 5 months (obviously because of recent news in that period) .
I should declare that I am a long time holder topping up in times of weakness. Very challenged by the seemingly endless periods on delays an slow progress. However
Things are truly starting to happen. I suspect this is not a yoyo period of a full blow up and a full blow down period that we have seen in the past has gone.
The possibilities of SPL7013 (nasal , ocular and other treatments as, at first a preventative or then early first treatment) against covid has added another unexpected layer on top of slower vivagel and the DEP programs
This new covid treatment has pushed the acceleration button at least in one field of our endeavours. So the next 6 to 12 months could be evolutionary. But to what extent.
I created this thread to look backwards and draw some theoretical comparisons and possible conclusions forward.
Early on I will post some initial charting ideas but will make various additions to this thread as time goes by looking at successful comparisons.
I used the weekly charts on which I include the 10WMA (equals the 50 day moving average) the 40WMA (equals the 200 day moving average) the RSI 5 index , the Macd and the stochastics (see chart below).
In this initial post because its getting late I will examine the SPL weekly chart.
I treat as a bullish sign when the weekly Hi-lo candle trades entirely above the 10WMA in the chart below this happened in the week 26 Apr closed at 1.085.
I ignore the weekly candles the cross the 10WMA .
I continue to be bullish until the weekly hi-lo candle closes entirely below the 10WMA (which is a bearish sign) to date this has not happened yet.
Next bullish sign is when the 10WMA turns upwards which didn't happen until the week 17 May and is still running upwards
I like to use Fib's so that I am not surprised by market rises and falls. I don't swear by them , but boy do they help allot.
Just initial Fibs thoughts on this current rise.
I initially ignore the rise from 0.615 to 1.36 because the hourly spike was so severe. Come back to that later.
So I concentrated on the 0.615 to 1.23. Which delivered ext 23%=1.37 , ext38% =1.46 , ext50% = 1.53
We hit ext50% of 1.53 Today. So easily.
Gone back to look at 0.615 to 1.36. Which deliver ext 23%=1.53 , ext38% =1.64 , ext50% = 1.73.
So lets watch. In my following posts I will look at some stocks that broke to 23, 38, 50 and even the 61 percent rules and went on to become leaders in the industry.
