There is a lot going on with this chart, and it all looks bullish. First, had a perfect retrace to the .618 fib after the crazy run to start the year. 
SXP bounced well from that area and challenged the local high of the $3.80 range. We have retraced and bounced off of support in the $2.75 range. It appears that we are forming a nice cup and handle pattern here.
On top of all the above, there is a bullish divergence on the RSI along with a breakout. The 4h MACD is also turning bullish. This is all pointing to a serious price increase. If we break out from this handle, we should see the $3.75-$3.80 price again. The two diagonal lines at the top of the chart are resistance from previous all time high (Wick and close). If we can close above that, I fully anticipate a $5.00 $SXP.
SXP bounced well from that area and challenged the local high of the $3.80 range. We have retraced and bounced off of support in the $2.75 range. It appears that we are forming a nice cup and handle pattern here. On top of all the above, there is a bullish divergence on the RSI along with a breakout. The 4h MACD is also turning bullish. This is all pointing to a serious price increase. If we break out from this handle, we should see the $3.75-$3.80 price again. The two diagonal lines at the top of the chart are resistance from previous all time high (Wick and close). If we can close above that, I fully anticipate a $5.00 $SXP.
הערה
Price broke out of the handle perfectly, but lost momentum fast. Looks like we are reaching support here and retesting the handle. Hope we have a bounce here.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.