Technical analysis
200sma & 100sma are now working as our support. This is specially important as they just recently reported earnings (check fundamental analysis below).
There is also a Fibonacci confluence setting support at $43.
Risk-reward-ratio ---> 3.5:1
Entry ---> $44.5
Profit-exit ---> $54
Stop-loss ---> $41.89
Next...
Technical analysis
SMA:
For the past 4 days, SMAR rallied of the 50sma with above average volume.
It took out its short-term resistance at the 200sma, and is currently crossing 100sma today (nov.20.2019).
RSI @67 on an uptrend
OBV is higher than early june when stock price was also $45, indicating accumulation (Bull).
**The healthcare is also...
Technically looking good and MACD reading bullish so it might break out of the 36-40 channel its currently in. Forming a cup and handle pattern and will look to fill the gap up to 48 and 55.
SMAR is a hypergrowth name that I am betting will be a winner for the rest of 2019 & beyond. This stock has just appeared on many peoples radar and I am sure its following will increase. We have a real grower in a hot sector (SAAS). Barring an overall repricing of assets I think this one provides plenty of alpha. Will be watching this one closely & trying to...
Reasons:
1. Prior consolidation before strong up move, shows hidden buying activities at this region – buyers will be likely to defend their positions at this level
2. Many lower wicks can be seen on the candlesticks before up move initiated – minor price action factor but shows buyers coming in to support the price
3. Prior support turned resistance level near...
SMAR testing resistance point for the 4th time since forming channel started in October. Volume interest has grown since late December, which can fuel a breakout of the channel. Watch close here. Strong breakout of volume can likely put this into a new upward trend or higher channel.
