- Uptrend: SPXC has been in a clear uptrend, making higher highs and higher lows from late 2023 into mid-2024.
- Middle Band (20-day moving average): The stock recently found support around the middle band (20-day MA), indicating that buyers are stepping in at this level.
- Recent trading volume appears to be decreasing, suggesting that the strength of the recovery may need additional volume for confirmation.
- Support: There appears to be a key support level around $140, which was tested during the recent pullback in late August.
- Resistance: The recent high around $165 (early September) acts as a resistance level. The stock will need to break through this to continue its uptrend.
- Bullish case: If SPXC can sustain above the $150 level and break through the $165 resistance, it could continue its upward trajectory.
- Bearish case: A drop below the $140 support level could lead to further downside, potentially to the lower Bollinger Band around $130.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.