Nov. 15 at 12:50 AM
$SMTC: The last close at
$65.46 indicates a position below the 30-day moving average (MA30) of
$68.88 and the 50-day moving average (MA50) of
$66.76, suggesting bearish sentiment. The RSI at 40.37 is below the neutral level of 50, indicating potential weakness and lack of buying momentum. The stock is also trading closer to the 60-day low of
$49.04 than the high of
$76.50, reinforcing a bearish outlook.
Suggested entry:
$65.00, anticipating a potential rebound if it holds above this level. Stop loss:
$62.50 to limit downside risk.
Targets: First target at
$68.00 (near MA30), and a second target at
$70.00, which aligns with psychological resistance and the current trading range.
Overall, the market context suggests caution, with a focus on monitoring price action around key moving averages and support levels.
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