What is interesting about the above chart of Scorpio Mining Corp (TSX: SPM)?

Scorpio Mining Corp (TSX: SPM) closed at $1.10 and was a key day reversal bounce in our model. Both its 20 and 50 day moving averages at $1.05 and $1.00 are strong resistance / support levels for the stock. $1.10 is right in the middle of that support and resistance at $1.20. It now trades on an RSI of 56.31 which, looking at the chart above, was also a bounce off the key 50 level.