SPH: Promising signs.

On 9 Feb, I said: "SPH is, technically, the strongest blue chip here. Today, I made an interesting observation. Dare I hope? It looks like a symmetrical triangle is forming in SPH's price action of late. Look out for the MACD (blue line) closing in on the signal line (red line) as it might mean that it is ready to form a bullish crossover. This would mean that price would probably break out higher . With MFI forming a higher low, the buying momentum has an upward bias. I guess a bit of hope doesn't hurt."
Please see: Small, mid and large caps.

SPH continues to move higher and closed at $3.74, above the 20dMA, today.  MACD is rising and closing in on the signal line.  Will it form a bullish crossover this time?  That the MACD is still above zero indicates that the upward momentum has yet to be compromised.  MFI has risen above 50% and it now remains to be seen if it will form a higher high.  Breaking out of the symmetrical triangle could possibly see a higher high formed for this counter at $4 or so.  Heavily vested.  Crossing fingers.

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