On Thursday, SMRT re-test its support at $2.03 and closed at $2.05 with volume of 3.66 million shares traded.
A black candle sticks with long upper/lower shadow similar to Doji affirmed that the selling pressure has eased as SMRT continues to trade directionless.
Both RSI & MACD are bearish with RSI in oversold region.
Important Resistance of SMRT: $2.10
Immediate Support of SMRT: $2.03
Currently the prices are resisted by the technical/100 days MA at $2.10
SMRT had a massive sell down on 2/3 Aug due to poor earnings reports and bank downgrades. But now it seems that the selling pressure has began to ease with shortist covering back.
If you are always interested in the fundamental of SMRT, then we recommend buying in the next few days.
As of now, SMRT is licking its wound and going directionless. But if it managed to stay supported at $2.03 for next couple of trading sessions, it would be a good time for entry near the support level.
However do look out for the next support at $1.99 and cut loss if breached at high volume.
On Thursday, AusGroup re-test its major resistance at $0.54 and closed at $0.525 with high volume of 7.81 million shares traded.
Separating lines occurred. If the lines occur during an uptrend and the first line is black and the second is white then this suggests that the uptrend should continue. However we would like to highlight that we do not like the long upper shadow which indicates profit taking at resistance level.
Both RSI & MACD are turning bullish as MACD lines about to perform a golden cross.
Important Resistance of AusGroup: $0.54
Immediate Support of AusGroup: $0.515
Currently the prices are resisted by the technical/100 days MA at $0.54.
We would not encourage any long term investors to enter this stock as prices are trending in a long term falling channel since Sept 2009.
As of now, AusGroup are supported by the short term rising line and prices tried to break out of $0.54 with high volume today but failed.
If Ausgroup managed to break out of the major resistance at $0.54 with high volume, it could be a sign of bullish and more upside will be expected.
yes ausgroup is the lousiest stock i ever invest…. super painful. take a look at falcon and ks energy.