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RizeSenpai

SMX: Attempting Trend Reversal with Triple Bullish Divergence

Long
SMX (Security Matters) Public Limited Company (BATS:SMX)  
RizeSenpai Updated   
BATS:SMX   SMX (Security Matters) Public Limited Company
Technical Indicators Chart Patterns Wave Analysis trendreversal Bullish Divergence
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indicator chartpattern waveanalysis trendreversal bullishdivergence
SMX (Security Matters) has been in a severe downtrend for quite a while now, but it should be noted that the float on this stock is quite low and that it would be quite easy for this stock to be pushed up significantly higher if any sort of demand were to appear. At the moment, we have Triple Bullish Divergence on the MACD and developing RSI Bullish Divergence as it attempts to break free from a down trending trend line. I think it could possibly reach $8.00-$22.00 if this turns out to be a bottom as that will align with the 50% and 61.8% retraces, though I'd be looking for this move to happen sooner rather than later. I won't be spending too much money on the entry of this trade, but I will be getting a couple of thousand shares at the most.
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