Friday, January 13, 2012

SMRT: Downtrend intact.

Technically speaking, SMRT doesn't look good and I am not referring to its trains stalling. OK, bad joke.

Lower high and lower low in price are accompanied by a lower high and lower low in the MACD which is in negative territory. The downtrending MFI suggests reduced demand as the 50% line acted as resistance.



However, forming a doji provides some encouragement for long holders. The doji