Recent promotion to FTSE 100 and a spate of good news and results pushed SMDS to new heights and since year-end results profit takers have corrected the share price. Oiutlok for this share is bullish based on recent market news and the same heights will undoubtedly be re-hit in the near future.
Trend reversal in early June was indicated by the double top and...
So if we look back at my chart from the 11th April you will SMDS paid off nicely for us hitting both targets.
Since then the company has moved into the FTSE 100 and has shown good growth over the last year. We have seen a small pull back to the 520 area after profits came in slightly lower than expected.
Technically the RSI & STOCH are shown oversold. Volume is...
We've had a potential long set up on SMDS with the market indicating its in oversold territory.
Todays close is a strong bullish candle engulfing the previous two days price action. I want to see price break 432 for a long or a pull back to 420-425 with some decent rejection from this level.
Financials look good, technicals look strong.