About 1 month back, there were some weakness spotted with Spackman breaking below the 0.110 level…
It was then at about 0.108 and some downside targets were drawn as per below chart as things were looking bearish……
1st downside target was at 0.090….
Over the past few weeks, we have indeed seen more weakness in Spackman with it approaching our first target at 0.090 today…
We may start to see some short covering near here for now but downtrend still looks intact below 0.096..
Any specific price action below 0.090 can still see more selling towards next target at 0.080 then 0.075 as per 2nd targets drawn…
Cautious long for now…
Want to be alerted of dangers like these?
For illustration purpose only
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