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Sopheon

Sopheon Looking Strong AgainLast post: May 25th. See chart . Review: Price was performing a deep pullback after finding resistance at the £10.00 round number. Update: Price found support at the 50 simple moving average and is showing signs of strength again. Conclusion: We need a break of the £10.00 round number and the previous all-time high before looking for long trades. Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments! Sublime Trading
SLong
by Sublime_Trading
Sopheon Breaks SupportLast post: May 22nd. See chart . Review: Price was struggling to break through the £10.00 round number then moved down and was approaching the support level. Update: Price has broken through the support level and is now heading towards the 50 simple moving average. Conclusion: Price remains above the Daily 50 & 200 simple moving averages so we can still wait for long opportunities if the 50 simple moving average holds price up. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
SLong
by Sublime_Trading
Sopheon Still Struggling At ResistanceLast post: May 15th. See chart . Review: Price was struggling to break through the £10.00 round number. Update: Price is still struggling at this psychological level. Conclusion: Price remains above the Daily 50 & 200 simple moving averages so we can still wait for long opportunities but a break of the support level and price may move further down and towards the 50 simple moving average. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
SLong
by Sublime_Trading
Sopheon Still TrendingSopheon PLC has progressed since our last post here where price was at £8.42, and now stands at £9.12 at the time of writing this post. We have highlighted the area of consolidation which was from March 2017 to January 2018. The longer the period of consolidation, the bigger the trend may be that follows a breakout. As this period of consolidation lasted almost a year, we can expect a big trend which is what we are seeing so far. On the Weekly chart shown, we can see there has been mostly bullish bars indicating strength with the buyers and good momentum to the upside. If the momentum continues like this as price approaches the £10.00 round number then it shouldn't cause much problems in stopping/slowing down price. As £10.00 is a strong round number, anything can happen when price meets it so it will be interesting to see what the outcome is. Right now we will be standing aside here and looking for trades if price breaks through £10.00. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
SLong
by Sublime_Trading
Sopheon PLC Trending Hard and FastSopheon is a good example of a nice moving stock. After it broke through consolidation which lasted the for the majority of 2017, it smashed through the resistance level and has not looked back. The Weekly 50 simple moving average played a part in pushing price up as it was used as support along the way. After the consolidation breakout, price has had an impulsive move to the upside with no clear pullback along the way so one may be due soon. If price does continue to move higher then it may struggle with the £10.00 round number as it can act as psychological support/resistance. At the moment we are seeing price moving down slightly after reaching the £9.00 area so we will have to see if the pullback occurs sooner. Remember that pullbacks are good opportunities to enter trades, just as long as they come down to a strong support area. We shall be waiting for opportunities once price breaks through £10.00 as there will be no obstacles in the way after that point and increasing the odds of a profitable trade. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
SLong
by Sublime_Trading