SMSI is coiling, just in time for the Fed rate announcement...
You'd think interest rates don't matter to a company like SMSI, but market direction affects every stock. Based on the chart pattern, we're looking at a test of gap support or launch to a 4+ year high.
If the market tanks, I'm going all in on this one, because I'm 100% certain it will be above $6 before next earnings unless there's a world war or something.
You'd think interest rates don't matter to a company like SMSI, but market direction affects every stock. Based on the chart pattern, we're looking at a test of gap support or launch to a 4+ year high.
If the market tanks, I'm going all in on this one, because I'm 100% certain it will be above $6 before next earnings unless there's a world war or something.
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LOL, this has got to be the funniest day ever. Every time I post something, it goes up. Look at this chart.... I plot the pennant and it breaks out just minutes after.
Almost temped to cash out of everything and call it a week. I'm out of posts for the day, already plotted 10.
Almost temped to cash out of everything and call it a week. I'm out of posts for the day, already plotted 10.
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LOL, at the rate this is going, it'll hit my short term target tomorrow. Hope you guys are having fun, I'm in for 6k shares right now. Didn't quite get to 10k shares, but who cares. I told everyone to add....
BTW, trailing P/E of 50 is $8.5. We're still not even close to that yet. That's where INS petered out at last earnings... 50 trailing PE.
BTW, trailing P/E of 50 is $8.5. We're still not even close to that yet. That's where INS petered out at last earnings... 50 trailing PE.
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My projection for tomorrow is that it is going to gap up a few pennies, drop down to $6, then head back up until the Fed meeting. If the Fed tanks the market, then this is headed down as well....
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I'm looking at HEAR chart from May 2017, SMSI is posting a similar pattern. There's a chance it can come back and retest $5.25 - $5.5 next week. There's also the possibility this thing just heads straight up to $10.
Maintaining my 6k position will add if it tanks, my buy points are now $5.25 and $5. Still 100% sure this will rebound to whatever top we set before next earnings, so the wise money says buy the dips up to whatever amount you can tolerate. 10k shares will be max for me. (I had 1k shares of INS before I sold at $48.)
Maintaining my 6k position will add if it tanks, my buy points are now $5.25 and $5. Still 100% sure this will rebound to whatever top we set before next earnings, so the wise money says buy the dips up to whatever amount you can tolerate. 10k shares will be max for me. (I had 1k shares of INS before I sold at $48.)
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Oh that, and you gotta love the fact that it followed my green line perfectly. Pretty sweet.
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Can I draw lines or what... hit the point and reversed. Right on the freakin' line.
Looks to me like we might get another bull flag here, it all depends on market reaction to the Feds at 2pm. If the market tanks, we're looking at $5.25 - 5.5, if the market jumps we're looking at $7.
In any case, we're all but guaranteed to test $6.6 before next earnings, so I'm holding my shares for now.
Looks to me like we might get another bull flag here, it all depends on market reaction to the Feds at 2pm. If the market tanks, we're looking at $5.25 - 5.5, if the market jumps we're looking at $7.
In any case, we're all but guaranteed to test $6.6 before next earnings, so I'm holding my shares for now.
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Index and futures chart pattern indicate a drop on Fed release. Be prepared to see this drop to the previously mentioned $5.25 - $5.5 range.
I'm still long, don't mind holding this until next earnings. Trailing P/E of 35 for a growing company is hard to beat. Just got overbought with earnings release, it was bound to retrace some of it.
I'm still long, don't mind holding this until next earnings. Trailing P/E of 35 for a growing company is hard to beat. Just got overbought with earnings release, it was bound to retrace some of it.
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Does not seem to care that the market is tanking, same intraday chart pattern as Monday. Let's see if tomorrow is a repeat of Tuesday, that would really make my week.
Target is $6.6 - 7.25. Not adding any more unless it hits my buy points. Not selling until the next leg up which is $10+. The next leg up might not happen until next earnings. If this is a short term trade, then dump it at pennant target because it will waffle around again.