Stock in Focus: SM Investments Corp. (SM)

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SM Investments Corp. (stock symbol: SM) bulls have been unable to push through the 800 level for nearly one month now.

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Philippine Stock Exchange, SM Investments_SM Daily chart, August 14, 2014

SM Daily chart, August 14, 2014

A little over 4 months ago, April 6 to be exact, I talked about the possibility of SM reaching 800 and beyond. So far, price had reached a high of 834.50 in late-July.

I would like to see buyers take control of the 800 psychological level. Then they must push through the resistance area at 850-870. I prefer not to see moves toward 750, a break of which could bring SM back to 2014 lows.

The Moving Average Convergence Divergence (MACD) is still bearish. It could turn anytime soon if buyers can get past 800.

Do you have SM in your portfolio? Share your thoughts below!

 

 

1 Comment

  1. Binenta ko last July. Baka bibili uli ako sa September pag ok yung price,,,

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