Some interesting observations on SMG
a) Chart seems to be strengthening
Based on Chart 1 below, SMG seems to have breached the near term downtrend line established since Mar 2018. Today is T+7 of the sharp upmove dated 31 Jan 2019 thus, I guess those contra players (who plan to contra and not hold the stock) have already exited. Indicators such as OBV, RSI and MACD are strengthening. ADX last trades 34.5 on 12 Feb 2019 amid postively placed Dis, indicative of a trend. Except for 200D SMA and 200D EMA, other EMAs are trending higher with a couple of golden cross formations being formed.
Incidentally, DBS also has a bullish technical call on SMG today.
My personal view is that SMG’s chart
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