SPC 180408

SPC did indeed open above the 7.35 resistance (green --) on 16 apr. To say that it tested the 7.52 resistance (red --) was an understatement. It practically pierced through the resistance and rocketed.



SPC went on to test the 8.10 neckline (pink --), which we saw it briefly breaking through on 17 apr, before settling down around the 8.00 support level (blue ...).

It remains to be seen whether the 8.00 support (blue ...) can hold since SPC has already been on the uptrend since 17 mar.

We would probably see some profit taking for SPC next week, with the price bouncing between the 7.80 support (green ...) and 8.10 (pink --) or 8.00 (blue ...) resistance.

For monday :

Support @ 8.00 (blue ...), 7.80 (green ...), 7.783 (low pink), 7.608 (upp blue --), 7.52 (red --), 7.41 (upp red)
Resistance @ 8.10 (pink --), 8.13 (upp pink), 8.15

Good Luck !!