DennyP
Long

SMAR support and bounce

NYSE:SMAR   SMARTSHEET INC
SMAR support at 24. Hoping for quick bounce to 26-27 range. Looking for quick trade, nothing more.

Stochastic oversold for quite a while now. I think the initial euphoria has ended since the IPO ( SMAR is in the hot S-A-A-S sector). Stop-loss at 22.50 (it's tighter than I normally do but we will see).

Good luck out there!
Comment: Not looking too good as there's weakness in this stock on an up day generally.

Stop-loss still at 22.50. MACD also turned negative (not good). Still hoping for bounce.
Comment: Was within 10 cents of hitting my stop-loss yesterday. Good thing it didn't get triggered, because SMAR is up to $25.20 now. Intra-day high of $25.72.

I'm still holding until target $26.90, which is roughly another $1.50 up from this level.
Trade closed manually: I sold at roughly break-even / slight gain at $24.40. I don't like the price action nor the volume on this one. I believe this could be headed to the teens soon.

Comments

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