SMSC Ascending Triangle
By Johns Wu on Dec 04, 2005
SMSC popped up on my ascending triangle scan. It’s not a perfect setup, but either way, SMSC is seeing 52week highs after breaking out of an ascending triangle setup.
Be careful though, SMSC is about to run into its all-time high resistance of ~$36. Check the yearly charts to see for yourself.
This entry was posted on Sunday, December 4th, 2005 at 1:41 am and is filed under Annotated Analysis.
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According to Monday’s (12-5-05) IBD, it is within 4% of 31.51 buy point.
Cheers!