SMP rising wedgeHoping to get in at $46.35. It's tested the support level a few times. It broke down in September but went back up after a few days.
Risk is $44.75.
SRU trade ideas
SMP up 16% on barely beating estimatesUp a ridiculous amount barely beating estimates. With the lack of liquidity in the market, this should head right back down to low $40's by next earnings.
There is a chance it can reach ATH before tanking though I doubt it.
SMP Detected possible stock repurchase!!!SMP: standard motor products
2018-05-18 08:30:11
Detected possible stock repurchase
SMP- Downward momentum short $48.33 to $44.13 or lowerSMP looking nice breakdown short setup. All the moving averages clustering beneath it. If it continues it break, it has long way to go. On the option side we would consider $50 September puts
* Trade Criteria *
Date First Found- May 22, 2017
Pattern/Why-Downward momentum short
Entry Target Criteria- Break of $48.33
Exit Target Criteria- $44.13 7 lower
Stop Loss Criteria- $%0.23
Please check back for Trade updates. (Note: Trade update is little delayed here.)
