The SMN weekly chart reminds me of some Picasso's women paintings I have seen in my travels. Seriously ugly at first glance, worth very little at the time of creation, but eventually worth a fortune. The mountain is the women's left eye, the hill is the women's right eye, Not a good look.
We are onboard a Boeing 737 awaiting takeoff, which is already long overdue. It's a long flight to land at FAA airport, but we are going nowhere until this plane gets off the ground.
This is an ugly chart. Especially that potentially ugly crossover of the 10WMA below the 40WMA. Time is the enemy.
I have been charting a long long time and charted many CR's. I have seen the half year history of the SP after a CR so many times. In my opinion the chances of the SP being above the CR price, 6 months later, is in the same region of your chances of picking Melbourne Cup sweep tickets out of a hat and getting a placegetter. So about 1 in 8. Learnt some hard lessons from that exercise.
I already help enough shares before the CR, I'll admit I was briefly tempted because of the options, then looked at the charts and backed off.
I may pick up a parcel "Pseudo options" down the track. Pseudo options have no expiry date and I don't have to find 78c per share to exercise them. I can currently buy them at 48c, however waiting to see if this flight takes off soon. Just before Christmas the flight could still be delayed by fear of crashing into Santa on his delivery run.
Oh yes, I could miss out on that buy, big deal, I already hold enough shares and liquidity is an issue.
Just my opinion, so DYOR
cheers Lies.
PS Pseudo options alternative name is just ordinary shares
SMN Price at posting:
48.0¢ Sentiment: Hold Disclosure: Held
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