Scanning the Numbers on Shares of SMART Global Holdings, Inc. (ASX:SGH): 3 Month High Sitting at 33.22

For technical traders, support and resistance lines play an important role. The support line generally displays the lowest price that investors will let a stock trade. This means that the stock price is unlikely to drop under this level. When support lines are breached, chartists may be watching for shares to move lower until they reach the next support level. The resistance line is the exact opposite of the support line. The resistance level is typically the highest price that investors will allow the stock to trade at. Traders will carefully watch the stock price when a resistance level is broken. The thought is that the price will continue to move towards the next level of resistance. Traders and investors may use support and resistance lines for various purposes. One popular use of these lines is to identify possible entry and exit points for trades.

Taking a look at some historical highs and lows for SMART Global Holdings, Inc. (ASX:SGH), we see that the all time high is currently 56.69, and the all time low is 11.5. Investors often pay added attention to a stock when it is nearing a historical high point or low point. For the last year, the high price is 56.69, and the low price stands at 21.04. For the last six months, the high was seen at 35.1, and the low was tracked at 21.04. If we move in closer, the three month high/low is 33.22/21.04, and the one month high/low is 30.7/22.43.

Traders following the stock may be watching SMA or Simple Moving Average Levels. Many traders will be watching out for when the shorter-term averages cross above the longer-term averages as this may point to the start of an uptrend. Let’s look at the following SMA readings:

SMA 50 day: 25.7952
SMA 30 day: 23.819166
SMA 200 day: 27.934376
SMA 20 day: 23.92275
SMA 100 day: 25.7677
SMA 10 day23.647

Traders following the Chaikin Money Flow indicator will note that the current 20 day reading is 0.20885499. The CMF value will fluctuate between 1 and -1. In general, a value closer to 1 would indicate higher buying pressure. A value closer to -1 would represent higher selling pressure.

Technical analysis on the stock may include following the Keltner Channels indicator. Currently, the 20 day upper band is 24.493904. The 20 day lower band is noted at 23.299568. The KC indicator is considered a lagging indicator. Traders may use the values to help spot overbought and oversold conditions.

Traders have the ability to use a wide range of indicators when studying stocks. Each trader will typically find a few indicators that they heavily rely on. The Ichimoku Cloud indicator works to identify trend direction, gauge momentum, and identify trading opportunities based on crossovers. We can view some Ichimoku indicator levels below:

Ichimoku Lead 1: 25.895
Ichimoku Lead 2: 26.96
Ichimoku Cloud Base Line: 23.98
Ichimoku Cloud Conversion Line: 23.8

Stock market players may have differing opinions on which type of research approach is best. Individual investors who prefer buy and hold strategies may be more likely to be studying the fundamentals. Traders that are constantly buying and selling shares may be more concerned with technical analysis. High frequency traders may be willing to take on more risk entering the market. For these types of traders, entry and exit points become far more important. Traders may be relying solely on charts in order to capture profits based on day to day, hour to hour, or minute by minute price fluctuations. Long term investors may not be as concerned with the daily ups and downs of the market.