Based on Smtc Corp Common weekly chart, a clear smart money campaign happened from accumulation (stage 1) followed by mark-up (stage 2). Smart money took a 7 months, from March 2017 to Oct 2017, to accumulate, with the evidence of Sign of Strength as iVSA chart above. Smtc Corp Common broke through the resistance level in Oct 2017 with volume. Smart money continues to mark-up the price in few weeks after the breakout.
Price is consistently moving upwards.Smtc Corp Common reached maximum high and we can see great profit taking have take place. To ensure the smart money continues to participate on the uptrend, we prefer to wait for more Sign of Strength.
No comments:
Post a Comment