Potential outside week and bullish potential for SPR

Detected in a recent weekly scan and discussed in depth at the week ending 05-Apr, SPR represents a potential bullish opportunity should momentum continue and newer highs be made past the current position. A recent outside week potential has been detected, with the trade activated on both 02-Apr and 04-Apr.

Stop loss for the trade would be below the low of the outside week formed recently (i.e.: below $0.57 from the low of 25-Mar).

Trade active:

UPDATE (week ending 12-Apr): Share price closing just on the 30 day moving average, and still above the stop loss level of the outside week formed recently. Suggest to sit and wait at this stage, considering the accepted risk in the trade set at the beginning of the trade.

Trade active:

UPDATE (week ending 19-Apr): Share price closing above the 10 and 30 day moving averages following a bounce off the stop loss area constructed by the range of the outside week formed recently. Do note that the company has gone into a trading halt based upon a capital raising (institutional and retail) at $0.58 per share as at 17-Apr.

Trade active:

UPDATE (week ending 26-Apr): Caution with the share price closing firmly beneath the 10 and 30 day MA's once again, whilst also noting capital raising at $0.58 per share.