15 Nov 2015 SMRT looks good for a short

By | November 15, 2015

SMRT Singapore Stock analysis

*Disclaimer: I am not vested in this stock

6 Dec 2015

Quite unexpected for a strong bullish move for SMRT. There were clues though the downside wasn’t going as strong as expected, (posted on 29 Nov below) but I was not expecting such a strong upside breakout

SMRT daily 6 Dec 2015

 

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29 Nov 2015

SMRT still on track for more downside to 1.36. Reasons are still same as below. However, the down move is not as strong as I initially expected. Don’t think it will go any lower than 1.36

SMRT daily

SMRT daily, 29 Nov 2015

SMRT weekly, 29 Nov 2015

SMRT weekly, 29 Nov 2015

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15 Nov 2015

SMRT (SGX – Singapore stock) looks good for a short. Few reasons why:

1. SMRT retraced 61.8% of recent wave.

SMRT 618 retracement

2. Trendline break. Bull flag breakout earlier (21 Oct 2015) also shows that the major part of up move is likely over.

SMRT Daily 15 Nov 2015

3. Weekly chart – price at 24 SMA (Green MA), an area where price usually reverses.

SMRT Weekly 15 Nov 2015.png

Initial targets are 1.365 & 1.32, which are the 38.2% and 50% retracement of this up move. Will need to monitor next week’s price action to get a clearer idea of the exact target. Will update this page next week.

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