There are numerous chart patterns in play with SMN at present - all bullish IMO, and it's about time SMN broke out of the consolidation over the last months.
Ascending triangle - over the last week SMN has formed an ascending triangle, the resistance to breakout of is at $1.50 - tried yesterday / this morning, retested support now its about to go again.
Cup & handle - a cup short term cup & handle has formed over the last 5 days also. This is a reversal pattern, the reversal has already been seen this morning after the tree shake. Breakout expected from $1.50
Pendant - Formed over the last 4 months - a classic consolidation after a strong breakout. The breakout will be from the upper trend line (resistance) which is pretty much right on 1.515. Watch it go!
This is the strongest I've seen the TA on SMN. Accumulation time is over IMO, time to buy the break.
DYOR, this is all in my opinion.
SMN - Chart, page-10
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Last
66.0¢ |
Change
0.030(4.76%) |
Mkt cap ! $90.65M | |||
| Open | High | Low | Value | Volume |
| 65.0¢ | 70.0¢ | 65.0¢ | $82.03K | 123.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 15253 | 66.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 68.0¢ | 5000 | 1 |
View Market Depth
| Last trade - 10.26am 31/07/2024 (20 minute delay) ? |
| SMN (ASX) Chart |