So far the SMN share price has risen $0.38 from the recent low of $1.34 to the recent high of $1.72. The correction has taken the price down to $1.54. At $1.53 the 50% Fibonacci retracement support level would apply & if broken the more powerful 61.8% Fibonacci support should be strong enough to halt any further decline.
The $0.38 upward move indicates that an initial target of $2.33 would be appropriate before advancing further.
I note that there are currently no buyers at $1.53 or $1.485. Interesting to see what transpires.
It is quite likely that SMN will never trade at these prices again so if you feel inclined to buy you will be obtaining a very good price with little downside risk.
SMN Price at posting:
$1.55 Sentiment: Buy Disclosure: Held
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