SMSN/N trade ideas
Upward Breakout of Round Bottom Pattern. Hit Record HighThe prices has just broken above the neckline of a round bottom pattern with a large-sized candle on Friday. Share price is likely to challenge its next resistance around 63,000 (127.2% Fib. extension by using points A and B).
Disclaimer:
The above analysis is for reference only.
Please exercise caution and prudence in making your own investment decisions
005930, Samsung Elec. - Trailing StopKRX:005930
Technical analysis does not depend on the market, it does not depend on the historical era, it does not depend on any kind of factor other than human emotions that are always repeated on the basis of fear and greed.
That's why we often find very similar patterns, that if exploited in a systematic way, you can accumulate wealth over time.
Then we for an ethical factor, we always decide to enter Long, then to favor the economy of the stock market.
Good trading to all
Samsung SDS’ Partnership with Tech MahindraSamsung SDS’ Partnership with Tech Mahindra www.financebrokerage.com
Global tech giant Samsung’s IT subsidiary Samsung SDS declared a joint initiative to start a new blockchain-based traceability product. In addition to that, the firm partnered with American software company Pega and Tech Mahindra to develop the latest project. Tech Mahindra is a subsidiary of major Indian multinational conglomerate holding firm Mahindra Group.
Moreover, the joint initiative will be a combination of Nexledger Universal, enterprise blockchain platform of Samsung SDS, and Pega Platform, digital process automation platform of Pega. Also, it plans to integrate Pega’s core product with Nexledger. And according to the press release, the company wants to develop improvements for supply chain systems.
Aside from that, the solution aims several related industries such as banking and financial services, insurance, manufacturing, public services, and supply chain logistics.
Bitcoin and the Crypto Market
Meanwhile, on October 20, slowly, crypto markets are shifting to green. And Bitcoin (BTC) displayed signs of recovery as it goes back to over $8,200 price mark.
Bitcoin has been trading under $8,000 price mark for the better part of the day. However, it is signaling some recovery after a few hours. The world’s largest cryptocurrency traded at an intraday low of $7,950. After that, it climbed to its recent trading price of about $8,216. BTC is showing gains of 3.73%.
A few days ago, they mined the 18th million BTC. And it left the world with only three million coins to mine. This was enough reason for crypto-skeptic Peter Schiff to believe that the future of Bitcoin looks horrible. Also, he claimed that it is just a matter of time before the most popular crypto will face a fast descent down to $4,000 or lower.
On the other hand, Ether (ETH) sat at $174.80 per coin. The number one altcoin saw a slight upward tick in sync with Bitcoin and is displaying a gain of 2.26%. Then, XRP has been trading relatively still for the most part of October 20. The third-largest coin by market capitalization is recently trading at $.293 per coin, up by 0.82%.
Samsung Electronics - Long - W formation - Daily - 14 Oct 2019Samsung Electronics has been forming a W formation since May 2019. It has recently broken above the $1,025 neckline level, showing momentum is set to continue up. This gives us a great opportunity to go long and buy the share.
Samsung De Facto Leader Bribery CaseSamsung Group will finally determine on Thursday, the future of its de facto leader. South Korea’s Supreme Court will eventually rule whether to push the bribery conviction of Jay Y. Lee. Previously, he was in involved in a scandal, which unseated the president and trained public ire on corporate untouchables.
Aside from that, the ruling for Lee will reveal how much he can concentrate on guiding the group’s flagship Samsung Electronics Co. Ltd. And this is through its dropping profitability and Japanese export curbs on material, which is crucial for the leading chipmaker worldwide.
In 2017, Samsung Electronics’ vice chairman Jay Y. Lee faced five-year imprisonment. They arrested Lee for bribing his friend, former President Park Geun-Hye. He asked to succeed his father and secure control of Samsung Group.
But after a year, he got out of detention when appellate Seoul High Court cut his sentence and suspended it for four years. Lee, who denies all accusations, and prosecutors appealed again.
Samsung Ex-President’s Bribery Case
Then, the Supreme Court sets to rule on appeals court decisions in the case of Park, impeached after the scandal and is currently serving a 25-year prison sentence. Also, a decision for her friend Choi Soon-Sil, imprisoned for 20 years. The two of them are facing bribery and other charges.
In addition to that, Lee became the latest in a series of conglomerate bosses convicted for corruption with a lenient sentence. As a result, this drew public calls for reform of big businesses always criticized for having incredibly close relationships with political leaders.
According to some legal experts, the Supreme Court has the power to uphold Lee’s conviction and suspended sentence. It can also appeal to the Seoul High Court to reconsider its judgment. And this might lead to the conviction overturning or a stronger punishment.
Stock Pick for Position Traders: $SMSN$SMSN is showing that people are accumulating since there is almost no change in price but volumes for the past trading days are increasing. Still sitting above MA20, a very low-risk entry for position traders.
