SMX [Security Matters] Plc [SMX] is -39.30% lower this YTD. Is it still time to buy?

SMX (Security Matters) Plc [NASDAQ: SMX] gained 83.01% on the last trading session, reaching $0.43 price per share at the time. The company report on January 12, 2024 at 9:28 AM that SMX SECURES US$5 MILLION CONTRACT WITH R&I FOR NATO SUPPLY CHAIN TRANSPARENCY.

SMX (Security Matters) PLC (NASDAQ:SMX; SMXWW) is pleased to announce a $5 million contract with R&I Trading of New York. This project, spearheaded by the SMX team, will deploy SMX’s cutting-edge technology to enhance supply chain transparency with respect to a NATO member state and with the expectation of expanding to further NATO member states.

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This new agreement with R&I Trading aims to set new standards in brand protection, authentication, ethical sourcing, and origination, specifically for the Fast-Moving Consumer Goods (FMCG) sector, including Beverage and Pharmaceutical industries. SMX’s innovative approach will enable NATO member states to ensure the integrity and transparency of their supply chains, reflecting the company’s commitment to ethical business practices and technological innovation.

If compared to the average trading volume of 355.31K shares, SMX reached a trading volume of 9755892 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Trading performance analysis for SMX stock

SMX (Security Matters) Plc [SMX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 35.96. With this latest performance, SMX shares dropped by -50.47% in over the last four-week period, additionally sinking by -84.96% over the last 6 months – not to mention a drop of -99.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SMX stock in for the last two-week period is set at 42.08, with the RSI for the last a single of trading hit 53.18, and the three-weeks RSI is set at 37.19 for SMX (Security Matters) Plc [SMX]. The present Moving Average for the last 50 days of trading for this stock 0.7938, while it was recorded at 0.2788 for the last single week of trading, and 7.3199 for the last 200 days.

An analysis of Institutional ownership at SMX [Security Matters] Plc [SMX]

The top three institutional holders of SMX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SMX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SMX stock with ownership which is approximately 5.8325%.