Charts - SPT, page-2276

Just as the doctor ordered. Risk/Reward on this one looking too good to pass up.

1. Textbook Elliott Waves - 5 up, followed by an ABC correction.
2. Retest of previous resistance, now as support at $1. Had to be done.
3. RSI way oversold, looking to double bottom - last time it was this low SP ran from 75c to $2.
4. Shake out of previous holders into the hands of new ones.
5. Looking for a decent bounce from these levels and an upwards continuation.

As always, please remember this is purely technical, based solely on charts, indicators and trends.

I have attached some screenshots of the TA explanation for those unfamiliar with it.

Cheers,
L



Theory Explanation Screenshots: