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Marubozu

May 31, 2010.

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Wednesday, November 11, 2009

SPH - Broke Critical Support Levels!

SPH seems to have broken below the 9 months uptrend support, 20D and 50D MA support with a spike in volume.  Below chart plotted base on Fibonacci Level on uptrend since Mar 2009.

 


 
Looking at from another perspective in a longer term view (Fibonacci Level on down trend since Dec 2008), SPH is unable to break the $3.859 resistance level.

 

  • Base on two different perspective, critical support level for SPH is between $3.565 (50% Fibonacci Level on 2nd chart) to $3.597 (61.8% Fibonacci Level on 1st chart, gray color). I simplify it to $3.58 as a critical level to watch.
  • Next critical support is between $3.271 (61.8% Fibonacci Level on 2nd chart) to $3.352 (61.8% Fibonacci Level on 1st chart, blue color). I simplify it to $3.31 as a critical level to watch.
  • SPH closing price for today is $3.74.

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