SMAR is breaking to the upside from a Bull Flag and is just over long entry level.
Earnings 9-7 amc and I do not see an earnings miss in their history. The reaction to the news is often more important than the news itself. Time will tell.
Negative volume is very high.
No recommendation
NYSE:SMAR
SMAR broke out of the upper Donchain channel on high volume following an earnings surprise. Additionally, the 100D EMA slope started moving to the positive. I am entering a long position here at $63.05 with a target of ~$69 and a stop loss set at 2x ATR.
Description: SMAR is trending higher and in an uptrend meaning that highs are getting higher and lows are getting higher. The uptrend line on the chart and the Trending Band Indicator (which measures trend) supports the Long Position above $67.5.
Stats:
1. Ideal buy range: $64.7 - $68
2. Take profit: $81.95
3. Stop Loss: $61.81
4. Risk To Reward: 1 / 5
5....
SMAR is not yet profitable due to their SG&A as well as R&D related costs - proper of the growth stage the company is currently navigating. Nevertheless, they have healthy financials (gross margin, strong cash position, low debt levels). Overall, the company posted a 69% EPS QoQ increase and a 40% sales increase in the last quarter. In fact, SMAR has an average...
Down-sloping resistance
Currently on a mini support too but it probably isn't too strong.
Daily and 4hr hidden bullish divergence on the MACD and RSI (Daily MACD not developing as yet)
Stop is below 2nd horizontal resistance line
1st Target = ATH
2nd Target = 1.618 fib. extension (more cautious on this target)
N.B - Taking this play here because I expect a...
$SMAR is soaring from higher than expected earnings numbers. $SMAR is benefitting from the increased demand for their products due to COVID. $SMAR products are beneficial for remote employees. With the introduction of vaccine news, we could see a strong pull back to a preferable buy zone ($59) that aligns with the 61.8 Fibonacci level and initial resistance.
I am liking the supports of SMAR enough to take a long at 61.86 with a modest target of 64.50. Believe we can keep going here with more thrusting upwards action.
SMAR looks like it can potentially be a good ER run-up play (12/9). Historically, it runs up hard towards ER and dumps after ER report. If there is enough momentum, it can break this triple top and rally up another leg into ER.
Entry trigger is on break of $60.82.
SMAR Smartsheet inc YTD 24.83
its has very little debt.
target price $61.41
again the stock has been overbought
and is selling for a drop off over a week.
$SMAR has been consolidating for 6months - since May - and has formed a bullish inverted H&S. ER is in early December and considering swinging a position trade through 2021 on this one. One of the cheapest stocks for its growth rate available in software. Neckline of $53 is active currently and should see new highs above $60.
Earning coming out Sept 2nd. This thing has been a huge chop fest over the last 12 months. Stan Druckenmiller likes this company and bought some shares during the 2nd quarter. Lets see how these earnings come out.
Smartsheet, Inc. engages in the design and development of cloud-based platform for work management. It offers ways for customers to plan and manage their work using grids, projects, cards, and calendars. The company was founded by W. Eric Browne, Maria Colacurcio, John D. Creason, and Brent R. Frei in 2005 and is headquartered in Bellevue, WA.
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