Soligenix Inc (SNGX)

[blackdeath]

I am basing only on TA analysis. In daily chart, we are seeing bearish patterns forming - like MACD or BOP or MACD or TSV or Aroon. Plenty of indicators shows bearish engulfing pattern. However things are starting to turn around in hourly chart for the first time since 24 July. Indicators started showing strong consolidation here. Until last week consolidation area was projected as 2.2 - 2.6.. Where the chart started consolidating for 1-2 weeks, and now since the support was broken on 6th, consolidation around this price is very strong possibility as shown in hourly chart. In Aroon we got Bulls overtaking bears and both under 50 mark which marks the start of consolidation range. We have MACD line above SMA9 with positive oscillation on hourly chart. Selling pressure seems to be wearing off. I expect daily chart to show the same in next few days with some of the bearish indicators move to bullish.
Weekly chart is very bullish.
At last fib arc and fans in all the charts show these prices to be nice place for consolidation, because this gives room for better Bulls when this starts moving up.