Technicals on SFM if you are planning to short.SFM broke its uptrend line from July 2024 during the week of March 3, 2025. Over the last three weeks, price climbed back toward that broken trendline, testing the underside of the and signaling resistance and potential confirmation of the breakdown.
This type of retest and rejection setup is often a classic reversal signal. On the weekly chart, a potential head and shoulders pattern is taking shape, suggesting price may roll over further in the coming weeks.
🔴 Bearish Scenario (Primary Bias)
SFM is rolling over after rejecting the underside of the broken uptrend line.
Potential entry point: break of 10/20EMA on Daily
If that breaks, price could pause around 139, then drop into the 120–130 area, a broader demand zone with historical support.
The move may find a floor around 122, where the rising 200-day SMA and a second uptrend line from January 2024 converge.
🎯 Bearish Targets:
139 → 130 → 122
And just for objectivity:
🟢 Bullish Scenario (Reclaim Required)
Bulls would need to reclaim the broken July 2024 uptrend line.
That would require a move above ~153–155, clearing both the trendline and current resistance levels.
If reclaimed, it may open the door to retesting prior highs near 178.
🎯 Bullish Targets:
154 → 164 → 178
⚪️ Neutral Scenario
Price remains caught between 140 and 155, grinding sideways.
Multiple EMAs and broken trendlines overhead could act as resistance, while the daily 10/20EMAs and minor horizontal supports provide footing below.
This could be a consolidation phase before a more decisive move unfolds.
