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LeLaf
Nov 7, 2021 8:06 PM

SM: Ascending Triangle (95%) Cup'n Handle (99%) Long

SM Energy CompanyNYSE

Description

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 break through resistance level at 460$ to confirm uptrend. If confirm, the sector as a whole may see a 77% increase. This, if confirm, will help SM hitting the price target and probably surpass it. Watching for now until a clear break in the sector shows.

Stay humble, have fun, make money!
Comments
Mihai_Iacob
loving it!
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