- SMAR rose above its 2022 downtrend line in early August. SMAR had declined over 63% YTD before basing at 29 and heading higher. The zoom chart reveals that SMAR has declined 13% in the past 14 trading days and is right back to break-out support. Caveat: EPS is 9/1/22. The weekly shows that SMAR’s lows in July and August were at support from its 2019 breakout before it rallied 180% in 2 years.
RRG analysis shows that SMAR has worked its way out of the Lagging quadrant and into the Improving quadrant. SMAR was in the TOP 20 in this week’s TPA-RRG report.
Relative Rotation Graphs (RRG) – explanation video
