subject: Re: SPL Chart - Golden Cross vs. Resistance (Response...

subject: Re: SPL Chart - Golden Cross vs. Resistance (Response to slick)
Message:
G’day slick,
Appreciate the detailed chart work. You’re spot on about that 53c resistance magnet—it’s clearly a tough nut to crack given the historical "trapped supply" you’ve flagged from the weekly.
However, looking at the daily averages, I think the "Sprinter" (50-day MA) is finally showing the "Marathon Man" (200-day MA) a clean set of heels. We hit a confirmed Golden Cross in January, and even with today’s tagging of the upper bollie and subsequent pull-back, the trend structure remains remarkably intact.
TL;DR for the Laymen:

• Golden Cross: The stock's "Recent Speed" has officially overtaken its "Long-Term Average." This is a major signal that the long-term trend has flipped from down to UP.
• The 53c "Ceiling": We hit a wall because a lot of old holders from 2023 are finally getting their money back and selling. This is normal.
• Fuel in the Tank: Our momentum gauge (RSI) is at 64. We’re moving fast, but the engine isn't "overheating" yet. Plenty of room to run once we clear this 53c hurdle.

I’m with you on the MACD, slick—it’s still looking very healthy. If we can churn through this supply and flip 53c into support, the path to the consensus $0.80 target looks a lot clearer.
GLTAH.
DYOR - Not financial advice.