SMP rising wedgeHoping to get in at $46.35. It's tested the support level a few times. It broke down in September but went back up after a few days.
Risk is $44.75.
3.18%
2.97USD
73.042MUSD
1.372BUSD
18.578M
About Standard Motor Products, Inc.
Sector
Industry
CEO
Eric Philip Sills
Website
Headquarters
Long Island City
Employees (FY)
4.9K
Founded
1919
ISIN
US8536661056
Standard Motor Products, Inc. engages in the manufacture, distribution, and market of replacement parts for motor vehicles in the automotive aftermarket industry. It operates through the following segments: Engine Management, Temperature Control, and All Other. The Engine Management segment produces and remanufactures ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems. The Temperature Control Segment manufactures and remanufactures air conditioning compressors, air conditioning and heating parts, engine cooling system parts, power window accessories, and windshield washer system parts. The company was founded by Elias Fife and Ralph van Allen in 1919 and is headquartered in Long Island City, NY.
SMP up 16% on barely beating estimatesUp a ridiculous amount barely beating estimates. With the lack of liquidity in the market, this should head right back down to low $40's by next earnings.
There is a chance it can reach ATH before tanking though I doubt it.
SMP Detected possible stock repurchase!!!SMP: standard motor products
2018-05-18 08:30:11
Detected possible stock repurchase
SMP- Downward momentum short $48.33 to $44.13 or lowerSMP looking nice breakdown short setup. All the moving averages clustering beneath it. If it continues it break, it has long way to go. On the option side we would consider $50 September puts
* Trade Criteria *
Date First Found- May 22, 2017
Pattern/Why-Downward momentum short
Entry Target Cr
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