Whilst obviously a speculative play that is not suited to all subscribers, simply because of its low price, Smartcool Systems Inc. (SSC:TSX.V; SSCFF:OTC.MKTS; R3W:FSE) continues to shape up well, and look even more attractive than when we last looked at it on 14th March. This is because, as we can see on its latest 1-year chart below, the Head-and-Shoulders bottom that is developing in it has now become pleasingly symmetrical, which means that the time is nigh for it to break out upside from this pattern into a significant new bull market upleg. The strongly bullish volume pattern and volume indicators support this outcome, in particular the strong On-balance Volume line, and the current tight bunching of the price and moving averages create the potential for a big move soon. The fundamentals of the company are believed to be good and continuing to improve.
Holders should therefore stay long, and Smartcool is rated an immediate strong buy again here.
Smartcool Systems website.
Smartcool Systems Inc, SSC.V, SSCFF on OTC, closed at C$0.06, $0.045 on 13th April 2018.
Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years' experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.
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1) Clive Maund: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. CliveMaund.com disclosures below. I determined which companies would be included in this article based on my research and understanding of the sector.
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Chart provided by the author.
The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stockmarket analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.