The Weekly Chart on the SIMO
is continuing its Bullish
outlook, the Up Channel
from May 2014 coupled with the Inverted H&S
pattern from March 2015 through to March 2016 tells us that this Stock could well make new highs on a weekly basis until it finds strong resistance around the 44.50 to 47.00 area (Red Highlighted Box). The Neckline Breakout confirms the H&S
Pattern, the Dual Resistance Breakout confirms the Bulls are still dominating. However being oversold across the timeframes would suggest a Pullback is pending, we can expect to see that Pullback testing the Weekly Trendline
Support and or the now Dual Support level
keeping the uptrend intact.