Simple pullback setup to breakout support on Spectrum. Spectrum Brands Hldgs (SPB)- MANUFACTURES AND DISTRIBUTES OF CONSUMER BATTERIES, RESIDENTIAL LOCKSETS, BUILDING HARDWARE, PLUMBING
Spectrum Brands Holdings Spectrum Brands Holdings Inc. operates as a consumer products company. It supplies consumer batteries, residential lock sets, building hardware, plumbing, personal care products, household appliances, pet supplies, lawn and garden, home pest control equipment and auto care products through its subsidiaries. Spectrum Brands Holdings Inc.,...
NYSE:SPB Possible Scenario: LONG Evidence: Price Action This is my idea and could be wrong100%
Hey people, SPECTRUM BRANDS HOLDINGS is in a fake bearish configuration with a strong sell volume at the start of the session then a weaker one at the end and a kind of water gate. The TIMEFRAME M1 on observed a tombstone with a low paid purchase volume heading to its latest low to make a turnaround. Great possibility of breaking out the price by breaking the VWAP...
I believe SPB is a Short. Maybe a week or two left going long but then short.