SMAR has now broke resistance and has begun to fill the gap in its chart. This gap plays all the way up to the $57-58 range. Looking for SMAR to fill the gap
Hey guys, SMARTSHEET is in a bearish configuration, it could be that it seeks to return to the volume run at the end of the session. The stabilization zone can be broken and for strength it will depend on the volume of purchase.
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- Breaks Resistance
- I do expect this to fill the gap a least to $55
- Possible Retest to $60
- RSI is right on neutral between 50-55 on the daily
-MACD indicator shows momentum to the upside is starting .
- Currently holding July 17 $55 Calls @ $.80 average
I. Analysis
1. Uptrend interrupted by a steep gap down on massive volume - Structure broken, with price trading below 20 and 50MA - we are looking at shorting opportunities
2. Two price rejection candles have just been formed at:
a) 50MA + 20MA area
b) cumulatively, previous support, potentially rendered resistance - we are looking at selling entries from...
Smartsheet Inc (SMAR - NYSE) has completed five wave impulse sequence in 2 hr time frame, which is the 5th wave of daily time frame, which indicates a good size correction for whole sequence in daily time frame (unless further extension). It made A wave down with all time high volume support. Wait for B wave to complete in wxy correction pattern where y wave is...
The last time $SMAR broke out over a double top resistance, it jumped >20 points in 5-6 months. It just did it again and earnings are tomorrow. This is a stock that has benefitted from COVID because it make collaborative WFH easier. I think its going to beat earnings and guide higher and start a move up to the $70-80 range over the next 6 months.
Started adding some support lines to SMARTSHEETS and saw a noticeable convergence all occurring at or around May 14, 2020. I'd love to see what happens when this stock gets there. It's been trending there since its inception.
Share predictions below...
SMAR is in the final stage of its round up pattern on the hourly chart. We may see it complete by tomorrow and hit $47.30 before facing some sort of resistance at that level. This is a short play with an expectation of it hitting the target in 1-3 days. Daily chart is showing rounding pattern as well.
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.
SMAR
