Sinophil Corporation (stock symbol: SINO) has continued to stay afloat even after the multi-gap events in June which brought this sleeping stock to life.
The MACD Oscillator (MACD-O) has stayed below the zero level even as price made a higher high more than a week ago. Bearish divergence is also clear if you compare price with the indicator.
The next resistance is found at the 2.00-2.50 area. Price action indicates a potential near-term decline toward 1.00 or lower. Bulls don’t want those gaps to get filled, but it can certainly happen. The decision is yours: exit and secure your profits, or wait for more upside while facing a downside risk in the horizon.
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