SMTC is consolidating just below a major resistance level around $53. Price has been riding above all key anchored VWAPs, with the yellow VWAP offering recent support throughout the move.
Today’s +1.70% gain comes as the stock holds the breakout zone and volume stays stable at 1.49M (just under the 2.07M MA). If price breaks and holds above $53.50, a continuation move toward $57–59 is likely, retesting the January breakdown zone.
Trend remains bullish while above $49.50.
Indicators used:
Anchored VWAP (multiple layers of support)
Volume + Volume MA (momentum gauge)
Resistance retest setup
Entry idea: Break above $53.50
Target: $57–59
Stop: Below $49.50 or rising yellow VWAP
Today’s +1.70% gain comes as the stock holds the breakout zone and volume stays stable at 1.49M (just under the 2.07M MA). If price breaks and holds above $53.50, a continuation move toward $57–59 is likely, retesting the January breakdown zone.
Trend remains bullish while above $49.50.
Indicators used:
Anchored VWAP (multiple layers of support)
Volume + Volume MA (momentum gauge)
Resistance retest setup
Entry idea: Break above $53.50
Target: $57–59
Stop: Below $49.50 or rising yellow VWAP
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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.
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.