$SGL could encounter resistance for now
SGL has pushed right into the previous zone of support which was in place during the entire period of 2017. This could potentially be a scenario of a change in polarity where previous support now becomes resistance. We had a break below this level in January 2018 and the stock traded the entire year below this zone of 13.50 - 14.20. We have now run straight back into this level and with the stock looking a little stretched in the short term, you could expect to see a near term pullback.
"If you do what you love, you'll never work a day in your life" - Marc Anthony
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.