SLS Oversold
SLS was sold off hard the last two days despite positive news. The current price has acted as both support and resistance in recent months (shaded area).
With an RSI of 38 and the price well bellow the POC line (90 days) I think 9.08 may have been the bottom. I think the drop had more to do with large investors rebalancing for the 2nd half of the year than anything else.
I would like to see the price close above the 50SMA to enter for a long swing trade.
Targeting 12.89 in the short term.
With an RSI of 38 and the price well bellow the POC line (90 days) I think 9.08 may have been the bottom. I think the drop had more to do with large investors rebalancing for the 2nd half of the year than anything else.
I would like to see the price close above the 50SMA to enter for a long swing trade.
Targeting 12.89 in the short term.
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