SmartEye. My technical chart looks like this.
I expected us to have already seen a small technical correction that would have taken it well below SEK80. But this has not materialized, and the stock has repeatedly remained surprisingly strong.
A bear flag is inherently a pattern of a downtrend. And now the daily and weekly trends are rising. On a monthly level, there isn’t a higher peak yet, but a higher low has been made. So I wouldn’t be worried about a bear flag, as it doesn’t quite fit that timeframe.
But what about the smaller potential decline, since it didn’t materialize? The stock has only recently broken out of a long downtrend. As such, the longer-term picture looks very promising to me. I drew a curved resistance for the short-term trend, as it seems to hit the touchpoints very well. Technically, it’s now a bit challenging due to the lack of corrections, and of course, that resistance is now very clear (meaning it should be broken). But still, I lean slightly towards a positive view even for the short term.
I have acted by reducing my bull leveraged product by 30%, and left all direct stocks in the portfolio.