Company: SM Prime Holdings
Support: 29.10 / 28.10
Resistance: 32 / 32.70
It appears that the higher low formation is considered a symmetrical triangular pattern and towards the end, it breaks out from the down trend channel.
SM Prime Holdings (SMPH) is ready to again test its resistance which is EMA200 (32.00). Keeping this in mind, it is also expected that SMPH may pullback before it breaks out again.
- There could be a strong breakout
- There is close by overbought level
It is that if the trading goes down to 29.50, try to buy on dips.