What does SmartTrans Ltd do?
SmartTrans Holdings Ltd [ASX:SMA] is engaged in mineral exploration, but it also has a 100% investment in a subsidiary company named SmartTrans Limited. And it is this part of the business which is going really well for them. The company provides a mobile phone online payments and transport management system in Australia and China.
They have a direct carrier billing arrangement with China mobile and it’s their China operations which are proving to be a key revenue driver. That’s all interesting; what is the chart telling us?
What does the chart look like?
I find it helpful to bring up a chart. Here’s the daily chart of SMA.
The company released news today, but you already knew that was coming, yes? Tenth consecutive month of revenue growth for their smart pay online platform in China. The share price has had a big day out today, rising 40% to a high for the day of 0.038 cents.
What now for SMA shares?
Well it’s had news today. You just know it will take further news to keep going higher. The chart will tell us soon enough. It doesn’t mean a thing until it’s in the pocket. Your job in markets is simply to make profits, not to get the very tops.
Trading it all is not easy, but you’ve just got to start seeing some of these and applying risk management.
Learn how to read a chart and you’ll realise that all the market comment on stocks are totally irrelevant — even my own. You can get some more ideas on reading charts here.
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