SM Energy following the overall trend in energy stocks.
The daily graph shows a confirmed ascending triangle with price target of 52.29$ (Left graph).
The weekly chart shows a confirmed cup'n handle with price target of 52.42$, similar to daily chart (Top right).
The sector graph (Energy) is building into an ascending triangle (not confirmed). It still has to break through resistance level at 460$ to confirm uptrend. If confirm, the sector as a whole may see a 77% increase. This, if confirm, will help SM hitting the price target and probably surpass it. Watching for now until a clear break in the sector shows.
Stay humble, have fun, make money!
The daily graph shows a confirmed ascending triangle with price target of 52.29$ (Left graph).
The weekly chart shows a confirmed cup'n handle with price target of 52.42$, similar to daily chart (Top right).
The sector graph (Energy) is building into an ascending triangle (not confirmed). It still has to break through resistance level at 460$ to confirm uptrend. If confirm, the sector as a whole may see a 77% increase. This, if confirm, will help SM hitting the price target and probably surpass it. Watching for now until a clear break in the sector shows.
Stay humble, have fun, make money!
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