SLP for example has formed a larger 8 month Stage 1 base structure relative to the 6 month Stage 4 decline, after a classic head and shoulders Stage 3 top, with right shoulder failing under the 30 week MA, and broke out within the broader Stage 1 structure today and closed right at the original Stage 4 breakdown level with relative strength strongly outperforming the S&P 500 and the zero line (52 week RS MA) turning up.
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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.