Spackman- at critical support?

21st February, 2017, 11:22 PM

Spackman- at critical support?

Spackman 21 Feb 2017

Spackman , a korean entertainment company has been pulling back the past few days after bouncing up to its recent swing high of 0.194 . It is currently at 0.181 which is around the uptrend line lower channel support level and the downtrend line support level (which after breaking above this downtrend line lately , it pulled back and retest this downtrend line again today, which now act as a support) .

Such confluence of support levels may signal Spackman is now at a critical support . If it can bounce off from the current price level of 0.181 , it may test the next upside resistance of 0.189 follow by 0.194 .

However if it break below 0.179 the low of today candle, which is below the critical support level of the uptrend and downtrend lines , then it could retest the next downside support of 0.176 follow by 0.169.

Be aware that Spackman’s results is pretty near which may be later this week or next week , so if you are trading this stock , do take note of it .

Yours

Humbly

Kelwin&Roy

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One thought on “Spackman- at critical support?

  1. […] Spackman , since our blog post last week ,bounced off the critical support level $0.180 and hit our first upside resistance of $0.189. Since then, it has been pulling back and broke below its uptrend and downtrend line support areas and touched its first downside support of $0.176,  before being halted for trading today at a lower price of $0.174 . […]

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