Stock: SMPH
Company: SM Prime Holdings
Support: 38.50 / 37.30
Resistance: 40.00 / 40.40

SMPH was one of the few stocks that closed in the green yesterday, bucking the market bloodbath. While it reached an intra-day high of 39.80, it closed a bit lower at 39.50. The stock’s overall trend looks to be more positive than what we’re seeing across the board.

MACD signal lines are just about to turn into a buy. RSI is at a healthy buy sign at 60.44. However, DMIs are showing a slight selling bias, albeit with low momentum.

With volatility starting to simmer down, we do not expect a breakout anytime soon. However, it is likely that SMPH will sustain healthy consolidation between 38.00 to 40.00 for the next few days.


Trade the range.


Please enter your comment!
Please enter your name here