TI SM

Stock: SM
Company: SM Investments Corp.
Support: 1017.81 / 968.75
Resistance: 1057.05 / 1100.00


The stock established a resistance at 1,057.05 after it once again failed to close higher than that since early Nov.

Despite the relatively positive performance last Monday, both the DMIs’ and the MACD’s bullish momentum are still declining. Only the RSI is still showing some upward bias.

Should SM continue to find a breakout challenging, it may start to consolidate between 1,017.81 and its resistance at least in the near-term.

Meanwhile, recall that its 50-d and 260-d MA formed a golden cross late last month.

Recommendation

Buy on pullbacks.

LEAVE A REPLY

Please enter your comment!
Please enter your name here