I had a reminder today from another stock in a similar technical position to SMN:
We are sitting right on a support trendline now and we can expect that institutional bot traders will try and push the SP down in order to hit stops and accumulate. If you have a stop on SMN any where near this level you are most likely going to lose your shares IMO.
When the push down fails - either because there are no stops or there are too many buyers then the SP will enter the next upswing. Watch for it it will likely be tomorrow or Wed.
Instead of having a stop waiting to get hit a good strategy is to have an offscreen buy order ready and waiting.
IMO, DYOR
SMN - Chart, page-35
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Last
37.5¢ |
Change
0.020(5.63%) |
Mkt cap ! $51.30M | |||
| Open | High | Low | Value | Volume |
| 36.0¢ | 39.0¢ | 36.0¢ | $21.70K | 57.18K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9999 | 37.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.0¢ | 10000 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
38.5¢ |
Change
0.020 ( 8.45 %) |
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| Open | High | Low | Volume | ||
| 37.5¢ | 39.0¢ | 37.5¢ | 12989 | ||
| Last updated 14.49pm 03/05/2024 ? | |||||
| SMN (ASX) Chart |