I last looked at SPR in February when price broke out above the December 2014 high. At that time I was waiting for the earnings announcement and to see how price reacted to the $50 half-figure.
Price has continued to move upwards and the trend is beginning to look good. The latest earnings announcement saw price pullback to below the 50sma and retest the $50...
The uptrend for SPR is still a little erratic. It has been using the daily 200ma as support rather than the 50ma - so the pullbacks have been deep and prolonged. This has not made it easy to trend trade.
However, since breaking above the 2007 high ($41.72) we have seen a slight change in personality. Price did struggle at this level and retested the area three...
