SPL has been rising in a price channel for the past year. It recently confirmed a downtrend the solic steep black line and price fell back to the lower boundary of the channel and what had also been an uptrend line until the new downtrend ocnfirmed. Should price do as it has on 4 occasions in the past year, and rise from that lower boundary it will break above the downtrend and at that point could be considered for a buy (but better to wait until price has made new higher troughs and peaks. If price does rise, previously it rocketed up and assuming prime moves up strongly a top around $2.80 is likely. A note of cautious to not get in too early because price usually falls down out of rising channels like this and the current fall could still be the one that does this.

SPL 21 May 21

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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