Today I noticed an anomaly in an obscure stock- SZMK.
I mention this as an illustration of pattern recognition. Media pundits, experts and analysts may pontificate and offer opinions but nothing foretells the truth better than price-volume data.
Today amidst the global selloff, SZMK bucked the trend. It was up 1%, with trading volume 70% above average.
SZMK is a provider of digital advertising services, which is not a favored sector of this downtrend. Curiously, there was one other stock in that sector which was also up today, the French company CRTO up 3.27%.
I could not find any news or announcements, which would account for SZMK’s rise. [There was a press release about a new AUTOPLAY feature they’re launching but past announcements haven’t accounted for such strong relative strength.] Nor could I find any orchestrated “pump & dump” ploys by market manipulators.
I have no idea why SZMK was a contrarian play today, but something must be afoot. For those of you that like unraveling mysteries, watch this stock.
DISCLOSURE- I own SZMK in my personal portfolio…which has proved to be an unfortunate purchase. As always, invest with caution.
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