$SGL could encounter resistance for now

SGL has pushed right into the previous zone of support which was in place during the entire period of 2017. This could potentially be a scenario of a change in polarity where previous support now becomes resistance. We had a break below this level in January 2018 and the stock traded the entire year below this zone of 13.50 – 14.20. We have now run straight back into this level and with the stock looking a little stretched in the short term, you could expect to see a near term pullback.

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