This is a pure January popper value play. SMSI is trading on the 50/20 moving averages and the bottom of the chart. The chart is ready to break out. It has made a sweet base and has over 3 million shares short. The float is only 33 million. In addition, it is trading 25% below cash value and the company recently announced a share buyback. The stock was $17.00 just one year ago. It now trades at $1.17. As January plays go, this is a top play.
$1.20 is the master breakout level. Do not pay over $1.25. It is a swing for the month of January.
Target 1 is $1.64 and Target 2 is $2.05.