Speed Medical Egypt has a potential to 0.60Daily chart, the stock EGX:SPMD is trading in a rising channel, and the technical indicator MACD is positive.
I see the stock is preparing to break out the resistance (upper channel line R) to target 0.47
Trading above 0.47 for 2 days will activate the targets up to 0.60
Consider stop loss below 0.36
SPMD
SPMD should rebound and target 0.655 after beating resistance1-hour chart, the stock (Speed Medical, Egypt) is trading in a falling expanding wedge pattern, and is getting into technical indicator RSI buy area.
The Ichimoku chart signals a change to up-movement.
So, the higher probability is a rebound to the resistance line. After crossing up, the target will be 0.655
Small Cap Stocks Follow The LeaderSmall Cap Stocks AMEX:SPSM AMEX:IWM are ready to make some big moves.
Take a look at this chart AMEX:XLG Mega Cap and the AMEX:SPY The S&P 500 have both broke near term resistance an imply a move upwards.
AMEX:SPMD Mid Cap and AMEX:SPSM AMEX:IWM Small Cap stocks should follow.
Lead Lag.
SPMD Bull or Bear? I favor the bull outcome in green, in which the solid white line acts as support for the double bottom
However I have also plotted a bear outcome in red where price breaks down within the channel and continues
This situation is where the double bottom fails
Lets see what happens on this daily chart