Technical Summary: It is a wonderful long term chart for SCL, with the stock having long consolidation periods but never really giving up meaningful ground. The stock provided a good buy point out of a constructive base at the end of 2017. This was followed by an explosion to the upside that eventually resulted in the stock becoming overextended. The reaction that
followed could be considered as natural and in a volatile market the stock has held up well. We would like to see the stock put in a bit more consolidation work before ideally setting up for a new buying opportunity. This theory would be reassessed if the stock broke meaningfully below the support at $4.40 (highlighted on chart).