SMIL Buy on Supportcurrent price action show rejection from support. Altough it still need confirmation for reversal, considering it is strong support, hence there will be low risk for taking long position for maximum advantages
SMIL trade ideas
SMIL - PRIMARY BASEI bought my positions today
June 19, 2023
The reasons:
1. Low-risk entry point
2. The stock offers the first buyable base after an IPO
3. Tight pivot level/line of the least resistance
4. High relative strength stock
5. Entry point at low cheat area
The flaws:
1. The general market is still in correction
2. There is still a huge overhead supply on the left side
The stock closes good and strong on the breakout. I want to see some constructive action in the upcoming days.
