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Looks like the support is at $1.24, at worst $1.18
Thanks Synapse for your reply.
Observed that the price shot up after Straits Times carried an article asking a few investors how they'd spend $50K. Peter Yim, the hero of many aunties and uncles i know, said SMRT (then at $1.19) was a good stock as it offered 8% dividends.
Wonder if that was the key driver that pushed the price up. Given the way how the price flew it seems like the herd mentality is back.
Anyone has an idea why SMRT jump from 1.19 to 1.30 on 03 Jan 07 ?
Sorry everyone about the problems with my chart postings. This is now fixed thanks to some advice from the guys at Sharejunction, so here is teh chart again for SMRT to go along with my previous comments. Hopefully I get it right this time. Cheers.
trading_coach
thanks for your advice..point taken. cheers
patricksoon...
if you do find out how to view the chat are you able to drop me a note as i am also unable to view charting...thanks
wow.. there are lots of experienced trading people in ShareJunction!
From both TA and FA schools of thought!
gho485 - To answer the question of an appropriate entry level, my trading plan/rules would tell me to buy this stock only if/when it trades at 1.20 or above, and only if it has a strong rise from it's current price at around the 1.10 levels. To some people this might sound a bit weird (ie why not buy when the price is lower to get it at a "cheaper price"? How come you would only buy if the price goes up?). But my decision-making is based on an indication of strength or weakness and on some associated probabilities; if it continues to trade a levels below the trend band then it is showing weakness; a solid rise up to form a new high in the current up-trend would show strength.
But please make up your own mind - the above is just to share with some of the strategies that I use..
patricksoon - not sure what the problem with your settings would be, in not being able to read the chart, you might want to check with an expert on these things.. Cheers.
dear Gurus
thanks for taking time to reply...can anyone suggest an entry level that may look decent?
Hi trading_coach
Thanks for your view. I am unable to see your chart....is it due to my computer setting?
Can someone help me with the correct setting?
Thanks and Cheers.
smrt is a fundamentally sound stock good for the long term investor. Its train pax nos is rising and will be significantly enhanced when circle line begins operations. Good defensive profits (fare revisions annually) and dividend payout. At current levels, it is a decent buy, but as pointed out by trading_coach, there is a current weakness in its share price - you may just be able to buy it at a cheaper entry price.
cheers
Hi gho485,
SMRT has been travelling nicely along an uptrend band since making a low in Oct05, however this week the closing price may be below my trend band, and if it makes a 2nd consecutive close below on a weekly basis then I would be suggesting a "sell" - so this week we may have the first close below. It has also reversed of a key resistance level around 1.18-1.20. Perhaps you can see it on the chart, but the level below the trend would be closing at the end of the week at around 1.10 or below. On the other hand, if it does not maintain this short term downward movement and rises up strongly, to trade
above the high of 1.19 reached previously on the week ending 12 May (ie trades at 1.20 or higher) then it would be a sign of strength and a buy would be possible (by my analysis at least)
From a longer term view, the stock had a very strong rise from April 2003 to July 2005, and it retraced to a level (in Oct05) that would suggest a sign of strength, given that it is also now trending back up. If it continues to rise, then I would expect to see some resistance at 1.27 but if it trades above that then there could be some good profits in order.
Hopefully the chart will stay posted long enough for you to take a look.
anyone following SMRT. need advice? paying attractive dividend. is it a good buy at current price?
