SMM - Summit Resources

[Sean K]

i would like to see the old resistance line form into the new support, which would be above 2.00 plus. a bit of consolidation around this level would be good for long term trend.

Great chart DJ!

 

[nizar]

SMM down 5%. That makes me very happy as I would like to be able to re-enter but not before it goes below $2

That also makes you very selfish, my friend

 

[dj_420]

lol, thanks kennas

 

[Fab]

That also makes you very selfish, my friend

It depends how you invest if you look at it as a mid to long term investment then the fact that it mght re-trace to $ 2 or below is a buying opportunity. Otherwise if you are a short term trader you know the risk of a volatile stock.

 

[Sean K]

Going gangbusters. Outside the trend line imo, running a bit hard.

What I would like to see now is it come back towards the top blue resistance line in the long term trend and bounce off it, sending it into a new range of support/resistance. In the mean time, expect a pull back. I don't want to feel like I have to take profits on this. How weird. :

 

[nizar]

It depends how you invest if you look at it as a mid to long term investment then the fact that it mght re-trace to $ 2 or below is a buying opportunity. Otherwise if you are a short term trader you know the risk of a volatile stock.

my point was u just dont say that u are very happy if a stock falls on a public forum, i mean why would u do that??

2.40, 2, 2.20 who cares about the entry that will be irrelevent in 6 months time.

 

[bigdog]

What do you make of all the small trades?

12:58:56 2.4800 1,799 4,461.52
12:56:20 2.4800 60 148.80
12:55:41 2.4800 5,000 12,400.00
12:52:14 2.4800 720 1,785.60
12:47:48 2.4800 31 76.88
12:47:48 2.4800 75 186.00
12:47:48 2.4800 75 186.00
12:47:48 2.4800 15 37.20
12:47:48 2.4800 75 186.00
12:47:48 2.4800 2,150 5,332.00
12:45:23 2.4900 562 1,399.38
12:45:23 2.4900 3,438 8,560.62
12:45:13 2.4900 18 44.82
12:45:13 2.4900 44 109.56
12:43:48 2.4800 5,000 12,400.00 XT
12:43:48 2.4800 2,850 7,068.00 XT
12:42:40 2.4800 150 372.00
12:42:17 2.4800 3,000 7,440.00
12:40:12 2.4700 4,500 11,115.00
12:38:33 2.4700 500 1,235.00
12:36:27 2.4500 2,289 5,608.05
12:36:01 2.4500 10 24.50
12:36:01 2.4500 140 343.00
12:33:34 2.4500 1,000 2,450.00
12:31:13 2.4500 1,513 3,706.85
12:30:20 2.4500 9 22.05
12:30:20 2.4500 35 85.75
12:29:32 2.4500 120 294.00

 

[Fab]

Nizar,

You are correct I apology if I offended you

 

[Sean K]

Great finish, at it's high: $2.50. You are a gem SMM!

Very temped to cash in some chips now to take some profits off the table, but I just know that with the 6 JORC estimates to come out over the next 2 months, this can still go blue blue blue sky.

 

[nizar]

This stock is a beauty.
The only one missing from my portfolio. I would buy it but the stocks i have are already so damn good!

 

[Sean K]

This stock is a beauty.
The only one missing from my portfolio. I would buy it but the stocks i have are already so damn good!

It's been a great run hasn't it? Can't own everything though can you? Would be very unlucky to be on a loser atm, or getting in at the wrong time. Ref anyone who bought GDN today.

 

[JimBob]

This is the best performing stock in my portfolio by a long shot, hard to decide whether to buy some more or just wait and see what happens.

 

[dj_420]

hey kennas

having a look at SMM on the charts and IMO this recent rise is sustainable i think SMM has just broken through to higher trading channel similar to one seen in previous highs.

we have seen a great increase in sp but not on huge increase in volume historically. based on ann yet to come i think it actually has much more left in the tank and with six JORC deposits SMM should be able to hold this rise and push further.

 

[Sean K]

hey kennas

having a look at SMM on the charts and IMO this recent rise is sustainable i think SMM has just broken through to higher trading channel similar to one seen in previous highs.

we have seen a great increase in sp but not on huge increase in volume historically. based on ann yet to come i think it actually has much more left in the tank and with six JORC deposits SMM should be able to hold this rise and push further.

Hi DJ, I was actually going to draw in a line like you have here at the top of the range. This is a very wide trading channel though isn't it? If it's going to trade in this range, then there's massive downside.

 

[dj_420]

yeah i think your right kennas, ive been looking over the books and i think it is to wide to be reliable as a trading channel. there are similarities from the last peak however.

that chart only can really show us some support.

 

[Fab]

I am wondering if you have the same analysis on AGS ? It is following the same upward trend than SMM

 

[Sean K]

yeah i think your right kennas, ive been looking over the books and i think it is to wide to be reliable as a trading channel. there are similarities from the last peak however.

that chart only can really show us some support.

Long term it could turn out to be right though. Like a 1-2 years trend. Just have to wait a while to confirm it.

 

[Sean K]

I am wondering if you have the same analysis on AGS ? It is following the same upward trend than SMM

I think AGS is very different Fab. I've posted charts on there. DJ might do his interpretation, but it was a different story really.

 

[chicken]

Great finish, at it's high: $2.50. You are a gem SMM!

Very temped to cash in some chips now to take some profits off the table, but I just know that with the 6 JORC estimates to come out over the next 2 months, this can still go blue blue blue sky.

NOW HEAR this....Kennas...I believe that you hit the nail on the head here....this share looks like blue,blue sky ahead with the announcement immenent....Mt Isa mines used to own some of these grounds and it is well known that the Uranium is present in hugh quantities..so I bet my $$$ that it will be hugh and the market is telling us that...with the green lights what will SMM shares be worth..$10,$100,$150,$200....our next Poseiden...I am holding as when it goes off it will fly like a jetplane....so get some now as tomorrow is to late...

 

[Fab]

In the short term $2.50 might be a bit of resistance that SMM will bounce on . Just my opinion