Hi Folks
Just an update of my previous daily chart. Today we received news of the 3rd last step before FAA APB approval.
So it's in Boeings court now for the 2nd last step. (I missed todays step in my earlier posts).
I am having a little trouble with my charting package, so sorry about the bit on the right.
Daily chart looks good, with a series of Higher-highs and Higher-Lows. Today we already established a new higher-high at 57 with a couple of days still to play out.
Notice I have looked a little forward with my potential projections of news of Boeing final submission to the FAA. Rough guide only.
Over the week-end I did some analysis on SMN and determined that we are flying very much under the radar. Why?
*SMN Mcap is about 80m. In Mcap size order we are about 1000th on the ASX. Micro-caps (30m and under) start at 1350th in order.
My conclusion is that the majority of the market don't even know that SMN exists, let alone what they do. Of those who are already aware of SMN are already involved. Boeings submission to the FAA likely to cause a bit of a stir, but, for the those already in the know.
The FAA approval could change this situation if it's detected by the various market pundits and rate it as a buy. Outside interest may be attracted and hence start my flash rise. How high it goes is dependent on how much FOMO mania is created, I expect the peak to be very short followed by the usual profit-taking correction.
This is a sustainable flash rise just like OCC. its Flash rise was from 63 to 1.67, but only traded for 2 days over 1.50. It's correction was down to 1.22 low so far and is currently at 1.28. That's normal.
The "scan scammers" flash rise like QUBT and QBTS both played out between 13 Dec and 13 Jan. In that period when the Nasdaq regulators attention was at it's lowest, QUBT flashed from 6.36 to 27.15 in just days only to return to 6.36 by the 13 Jan.
Talk about orchestration. Not even ninja terrapins could save you from that fall. (see second chart)
10 foot poles are too short to go anywhere near these companies.
With SMN after the FAA APB approval, then correction, it will be airline deals and revenue hitting the books that will have an impact on the next stage of the SP rise.
Just my opinion. DYOR
cheers Lies
(20min delay)