Hello! Friends, This would be a great short Opportunity, IF NYSE:SMAR breaks down the Support line at $48 !!
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...
Not investment advice - my opinion only. Long SmartSheet
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.
Smartsheet Inc. Ticker: SMAR Industry: Software Entry: $57.88 or better Stop Loss: $56.48 Price Target: $70.00 Risk: $1.40 Reward: $12.12 Reward/Risk Ratio: 8.66
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...
Bullish engulfing pattern today on SMAR after recent correction. Longer target with aiming at last major high before the rally.
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.