SM Investments Corp. (stock symbol: SM), more than a month since my post, still holds firmly close to the 700 psychological level. Certainly, there were several downside moves since January but it has subsided now.
Since we have not seen considerable follow-through downside moves below 700, this stock could be ready to challenge higher prices. Are bulls prepared to take this opportunity? 750-800 is the initial goal, while 700 remains as the line in the sand.
The Moving Average Convergence Divergence (MACD) is mildly bullish, thanks to recent price advances.