SMM (technical)

SMM: the stock continues to trade in a wide range. The recent rebound bodes well for SMM's technical outlook, with the key indicators RSI and MACD at above neutral levels and rising steadily . Nevertheless the counter faces resistance around the $4.80 level (200day MA and classical resistance). A successful break above this would position SMM as a likely bullish breakout candidate. See support at $4.60.