$JSESPP - Spar Group: 11298 Holds Firm, Will Bulls Re-emerge?
The last coverage of Spar was on 2023.01.18 and the wave count was suggestive that the big bear had potentially ended at 11298, link below.
The stock had a good, strong and impulsive looking rally from 11298 to 15432.
The corrective move from 15432 to 11778 has thus far unfolded as a double zigzag (wxy).
The stock bounced at 11778 to just above 12700 before pulling back towards 11778 but this level held and the stock has caught a bid again.
This could be the beginning of a new bullish sequence above 11778.
Long positions can be opened at current levels with 11778 as an aggressive stop-loss and 11298 as a more conservative stop-loss.
The stock had a good, strong and impulsive looking rally from 11298 to 15432.
The corrective move from 15432 to 11778 has thus far unfolded as a double zigzag (wxy).
The stock bounced at 11778 to just above 12700 before pulling back towards 11778 but this level held and the stock has caught a bid again.
This could be the beginning of a new bullish sequence above 11778.
Long positions can be opened at current levels with 11778 as an aggressive stop-loss and 11298 as a more conservative stop-loss.
