04.25.2025 / 
SMMT #SMMT
Fundamentals. Neutral news background
Technical analysis.
Daily chart: The price updated the All Time High during the previous trading session. The nearest support level is 33.60, formed by the trend break in September 2024.
Premarket: Gap Down on moderate volume. The price tests the level of 33.60, but holds above.
Trading session: The price tests the level of 33.60 twice and gradually tightens towards it in the first hour of trading session. We also note that the premarket high was not updated. The price makes 2 unsuccessful attempts to return back above the level after breakdown of 33.60. We are considering a short trade in case the level is held below.
Trading scenario: #breakout with retest of level 33.60
Entry: 32.99 when the level is held below and the lower low is updated.
Stop: 33.71 we hide it behind the high of the retest.
Exit: We observe a strong impulse movement without a trend structure. It is optimal to take profit in such movements in parts upon reaching certain target profit goals (RR 1/3, 1/4, etc.) with subsequent tightening of the stop. Close the last part of the position at a price of 25.36 when a reversal candlestick pattern appears.
Risk Rewards: 1/10 max
P.S. In order to understand the idea of the Stock Of The Day analysis, please read the following information.
SMMT #SMMTFundamentals. Neutral news background
Technical analysis.
Daily chart: The price updated the All Time High during the previous trading session. The nearest support level is 33.60, formed by the trend break in September 2024.
Premarket: Gap Down on moderate volume. The price tests the level of 33.60, but holds above.
Trading session: The price tests the level of 33.60 twice and gradually tightens towards it in the first hour of trading session. We also note that the premarket high was not updated. The price makes 2 unsuccessful attempts to return back above the level after breakdown of 33.60. We are considering a short trade in case the level is held below.
Trading scenario: #breakout with retest of level 33.60
Entry: 32.99 when the level is held below and the lower low is updated.
Stop: 33.71 we hide it behind the high of the retest.
Exit: We observe a strong impulse movement without a trend structure. It is optimal to take profit in such movements in parts upon reaching certain target profit goals (RR 1/3, 1/4, etc.) with subsequent tightening of the stop. Close the last part of the position at a price of 25.36 when a reversal candlestick pattern appears.
Risk Rewards: 1/10 max
P.S. In order to understand the idea of the Stock Of The Day analysis, please read the following information.
Если у вас появились вопросы по данному разбору, у вас есть альтернативное мнение или вы хотите поделиться собственной акцией дня - добро пожаловать в Telegram t.me/stock_of_the_day_channel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Если у вас появились вопросы по данному разбору, у вас есть альтернативное мнение или вы хотите поделиться собственной акцией дня - добро пожаловать в Telegram t.me/stock_of_the_day_channel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.