SCLP has been on an 8 year downtrend, and is currently in a consolidation phase off the lows in May 2019. A short-term uptrend can be seen and is in the latter stages of forming a cup handle pattern. The handle coincides with the L/T downtrend. A close above the downtrend and consolidation phase signals a trend reversal.
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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.