We have witnessed lackluster trading in the stock of Sy-led SM Prime Holdings (stock symbol: SMPH) in the past few days (and weeks).
I have emphasized caution in my post back in January. Now I feel the need to express caution again as this stock has remained low despite the recent run-up in the Philippine Stock Exchange index and other stocks. Price is steady below the 15.00 mark and it is very close to the 16-month low set on January 21 at 14.10.
The Detrended Price Oscillator (DPO) has trickled below the zero level, following the weak trading in recent days.
Upper line in the sand is 16.00; lower marker is 14.00.