Stock in Focus: SM Prime Holdings (SMPH)

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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.

(Click here to view the original image)

SMPH Daily chart, January 3, 2014

SMPH Daily chart, January 3, 2014

 

 

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