Scottish Mortgage Investment Trust is going through stage 1 base and looking to breakout to stage 2 uptrend after falling over 53% during the stage 4 downtrend.
Chart pattern looks interesting.
This is one of the most popular investment trusts in the UK and has been an excellent proxy for the tech stock boom of the last 13 years. Whatever the merits or demerits (?) of this count I reckon I can count a 5 wave move to the downside. If I am right, we are now going to see a 5th wave materialise to somewhat improbable highs or, if the top was already in we...
Scottish Mortgage is currently in bear market.
MACD bullish cross suggest we will try to go towards 200 EMA around 1328 but that is a strong resistance.
RSI is pretty weak. Pesymistic scenario: we test 50 EMA around 1250 and go lower (but 200EMA more likely)
I think SMT will stay in bear market this year
SMT strong upward trend.
No advice given but its a long hold for me (for entertainment purposes only)
Multi diagonals added to see how price behaves.
Lets see
As a UK based proxy for mostly US tech stocks this FTSE 100 Investment trust has given it's investors a pretty good run. This count suggests that there may be more to come after this recent break out.
