Smart Technologies pulled back hard from it's initial IPO. After making a large base the stock has started to change behaviour recently. For those that are not aware, Smart makes interactive white boards that are used in classroom settings. I was recently at Georgia Tech with Goeffrey Kennedy of Elliott Wave International and I noticed they had the Smart Technology there. That perked my interest in the stock, which is a Calgary based company.
Here is the chart.
Notice the volume change recently. The stock is getting more interest. Still thinly traded, but note the quiet volume on the pullback. Just based on the volume, there should be another earnings announcement soon. It looks like three months ago was the gap up on high volume. Should be an interesting earnings announcement.
You can see the SCTR is pinned to the top. Nice !
Good Trading,
Greg Schnell, CMT
