SAMART : Mixed Signals – S1 8.3-8.4, R1 8.7-8.8

If SAMART manages its third weekly close above 8.40 the stock will have a decent chance of rallying to 9.20 or so next week. Held back by strong price resistance at 8.70-8.80, if it succumbs to weakness this afternoon the 8.30-8.40 support will be the first stop on the way down. Lower and more substantial support is at 7.85 or so, with a poor close today at 8.40 or lower likely to see it fall to 8 or slightly lower early next week.

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