I show the exact top of that gap to be 106.76 (the low from the 1/29/18 candle) so basically, yes. However, my preference is to be short before SMG makes a full backfill of the gap as that gap is so glaringly obvious that I would put good odds that the stock either reverses shy of it (as too many eyes are watching & the sellers are likely to step in early) –or– the stock pops above it before reversing in order to run the stops on those that shorted in anticipation of a reversal on a gap backfill. The latter is much easier for the powers-that-be (i.e.- institutions running big algos) as SMG trades relatively low volume (low volume stocks are much easier to manipulate that high-volume stocks).

You might then ask, “Why not just wait for that to happen?” to which my answer would be that I’d rather get in this one early & risk a bit of a drawn down on a possible stop-raid than miss an entry, should the stock reverse shy of the gap & move lower from there. Just my trading style & certainly not for everyone.