SMN 2.60% 37.5¢ structural monitoring systems plc

SMN technical analysis chart, page-7

  1. 2,971 Posts.
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    Hi Folks

    I see some good signs in today chart with todays upward movement.

    We have pieced the down trend line. Looking at the FIB's on the chart we had a DCB of just over the 23.6% the trended down again to below the 23.6% extention ( which looks like the bottom of this bear run) and have started the upward reversal.

    On my second chart , weekly. You can see the 10WMA is still rising. In the coming weeks I expect to see the weekly hi-lo candle to trade entirely above the 10WMA, in my opinion a bullish signal.

    We shall see?

    Just the way I read the market so that I am not surprised by what plays out, as always DYOR.

    cheers Lies

    https://hotcopper.com.au/data/attachments/4274/4274391-6af3c3e9ef5e632d706440a1bc675ee1.jpg
    https://hotcopper.com.au/data/attachments/4274/4274449-e28cd8e31e775b57ce00416e62c1ba9e.jpg
 
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