It seems to me that there is a H&S pattern on the daily chart and it broke the neckline at about 8.40. It's since pulled back to that level and found support at the 200dma. I like the stock but it's going to have to clear 8.95 to 9.00 on strength now to convince me it's for real (as of 4/10 mid-day).
Nothing in this blog represents investment advice, trade recommendations, or anything of that nature. Rather, the information herein is for educational and entertainment purposes only. If you want advice, go somewhere else.
3 comments:
Let me know if you agree/disagree with the inverse h & s pattern on SMDI.
I've posted a chart in my post
here.
It seems to me that there is a H&S pattern on the daily chart and it broke the neckline at about 8.40. It's since pulled back to that level and found support at the 200dma. I like the stock but it's going to have to clear 8.95 to 9.00 on strength now to convince me it's for real (as of 4/10 mid-day).
I just got your notice on SMDI. Sorry for the delay.
Did you see the move in SMDI on 4-16-07?! It cleared those levels on strength and good volume. Looks like a little flag developing now.
Post a Comment