28 Apr '12, 2pm
Stock Chart: SMRT!
On Friday, SMRT continue to undergo heavy selling pressure and closed at $1.685 with HIGH volume of 4.41 million shares traded. Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows , the steady downward pattern is bearish. Both RSI & MACD are bearish though RSI near oversold region. Important Resistance of SMRT: $1.71 Immediate Support of SMRT: $1.64 Currently the prices are well below 20/50/100/200 days MA. SMRT had a massive sell down on 25/Aug due to the announcement that SMRT plan to spend S$900 Mln in upgrading rail operations. For the past 3 trading sessions, SMRT has been under heavy selling pressure and this is a bearish signal. The support at $1.64 is expected to be strong. Do not suggest catching a falling knife yet. Wait for consolidation before entry will … Tagged as: SMRT Read the full arti...