The daily chart of SNGP shows a strong bullish trend that recently pushed the stock to new highs, but a potential reversal signal has emerged. A Gravestone Doji has formed near the top, a bearish candlestick pattern that suggests buyer exhaustion and possible trend reversal. This is particularly significant as it occurs after a strong upward rally and near a resistance level. Volume remains notable, signaling high market activity around this level. If the price begins to decline, the key support zone between 115.50 and 118 could act as a cushion for a potential bounce. A break below the support zone may confirm a corrective move.
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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.