SM Prime Holdings (stock symbol: SMPH) has been considerably wounded since the October-November jump-and-drop. The relatively steep decline encountered some serious support just below 15, and price is now challenging the upper band of the downsloping (imperfect) channel.
What’s more, the MACD Oscillator (MACD-O) has peeked above the zero level, possibly indicating a substantial rebound is imminent.
Bulls should keep the pressure and attempt to bring price to 16 or higher soon.
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