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Company Posts Record-Breaking Sales

Streetwise Reports
0 Comments|November 13, 2018

Technical analyst Clive Maund charts the recent moves in the stock of this energy-efficiency firm.

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We got enthusiastic about Smartcool Systems Inc. (SSC:TSX.V; SSCFF:OTC; R3W:FSE) early in the year, but not much happened. At one point in August it dropped back to about CA$0.04 before a five-week period of suspension, or a trading halt, was imposed. After the halt was lifted it rose a little and then went into a narrow range, before taking off quite sharply higher yesterday.

Now it looks like our earlier optimism regarding this stock was justified, as the company has just this morning released news of record-breaking sales by a big margin. It looks like Smartcool is going to break out above the resistance at the top of its recent basing pattern, and take off higher immediately, which its charts below show it is in position to do.

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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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