- 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
Jeff Marcus founded Turning Point Analytics (TPA) in 2009 after 25 years on trading desks and 13 years as a head trader to provide strategic and technical research to institutional clients. Turning Point Analytics (TPA) provides a unique strategy that works as an overlay to clients’ good fundamental analysis. After 10 years of serving only large institutions, TPA now offers its research services to mid and small managers, RIA’s, and wealthy sophisticated individuals looking for a way to increase their returns and outperform their peers.
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