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$SMOT | How to Take Advantage of moves in ($SMOT) (SMOT)

By Thomas Kee

$SMOT | How to Take Advantage of moves in ($SMOT) (SMOT)

The technical summary data tells us to buy SMOT near 32.28 with an upside target of 33.98. This data also tells us to set a stop loss @ 32.19 to protect against excessive loss in case the stock begins to move against the trade. 32.28 is the first level of support below 33.16 , and by rule, any test of support is a buy signal. In this case, support 32.28 would be being tested, so a buy signal would exist.

The technical summary data is suggesting a short of SMOT as it gets near 33.98 with a downside target of 32.28. We should have a stop loss in place at 34.08though. 33.98 is the first level of resistance above 33.16, and by rule, any test of resistance is a short signal. In this case, if resistance 33.98 is being tested, so a short signal would exist.

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