Hi FolksAfter the announcement on Monday the dust is beginning...

Hi Folks

After the announcement on Monday the dust is beginning to settle. Thought I would have another look at the weekly chart.

In watching the last few days trading it's obvious that there is a lack of serious buying pressure reflected in order volumes. Still flying under the radar.

The announcement details a time line for progress with nothing of significance until late Sep.

After an A-wave move from 33-78.5 and the lack of pending news a retracement (some profit taking) is fairly normal.

Not surprised if the slope of the 10WMA weakens. Also unsurprised if we see a series of descending weekly candle and eventually cutting across the 10WMA.

I have included my 1st likely retrace target area top midway between the 23-38% FIB and the bottom midway between the 38-50%. Very common.

If no news surfaces by mid Oct then suspect that the 50% retrace FIB could be tested.

I will not be losing and sleep over such a movement on the chart. After the confirmation announcement I consider that SMN will eventually become a serious disruptor stock.

I have studied the historical charts of a number of successful disruptor stocks and their stories on all of the charts seem fairly similar and retracements are all part and parcel of the journey. In initial development many retracements, then on the arrival of the first dividend a period of protracted growth, but that often leading to a phase (FOMO) when they are over-bought and another correction occurs. It can happen a number of times on the long journey up to the stratosphere. Recognising these over-bought phases is challenging, hence my study.

Getting ahead of myself just a little. I have some personal milestones I will be watching for in the coming years.
* Obviously FAA APB approval
* First serious CVM revenue arriving in the quarterlies.
* First customer other than Delta airlines for APB applications.
* Second CVM application for FAA submission/approval
* First dividend
* First licensing income surfacing in the Qrtly.
* First helicopter application revenue

To name a few of my earlier one's.

Anyway just the way I deal with the markets so that I am not surprised by what plays out, so as always DYOR.