🌐 Market Overview:
Industry Context: NYSE:SM Energy operates as an independent energy company, with its performance closely tied to oil prices and production.
Current Environment: Geopolitical tensions have led to a surge in oil prices, with Brent crude surpassing $89 a barrel, potentially benefiting companies like SM.
💼 Company Strategy:
Capital Spending: SM...
1) I drew resistance and support lines in the past and they worked very well for short and long positions. I drew support line and it is very close to be broken or security will take support from there. I drew resistance line and it is another obtacle for new peaks. If security wanna increase, it must break it. Also RSI has 2 moving averages and they crossed each...
SM Energy Company ( NYSE:SM )
Sector: Energy Minerals (Oil & Gas Production)
Market Capitalization: 5.455B
Current Price: $44.50
Breakout price trigger: $45.50
Buy Zone (Top/Bottom Range): $43.30-$39.70
Price Target: $54.30-$55.60
Estimated Duration to Target: 62-66d
Contract of Interest: $SM 1/20/23 50cTrade price as of publish date: $3.70/contract
huge volatility when we broke our current resistant above the 37.49$, now we should hold above to confirm the breakout and test around the 42.55$ first then above the 50$.
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tiny.one
SM Energy continues to look very bullish with a longer-term cup & handle-like pattern and recent ascending wedge that should move to the upside.
Target around 60$
we will continue up till our first profit taking between 38-40.83$ mark , then if we over come this resistant will go and pump till the 54.20, we need to hold above the 31.99$, to confirm this bullish momentum to hold.
SM Energy following the overall trend in energy stocks.
The daily graph shows a confirmed ascending triangle with price target of 52.29$ (Left graph).
The weekly chart shows a confirmed cup'n handle with price target of 52.42$, similar to daily chart (Top right).
The sector graph (Energy) is building into an ascending triangle (not confirmed). It still has to...
Energy stock on the move.
Ascending triangle on the weekly chart, not confirmed yet.
Must break 26$ with volume to confirm.
If confirmed:
Price target = 52.30$
Stay Humble, Have Fun, Make money!
