SMPH Technical Analysis: Will This Consolidation Near the Resistance Lead to a Breakout?

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SM Prime Holdings, Inc. (PSE:SMPH) is priced at ₱38.1 per share, down by 1.93 percent, as of 03:30 PM GMT+8 on October 28, 2019.

The Total Turnover Value is at ₱211,919,655.00. The foreign traders are the main drivers of SMPH today.

SM Prime Holdings, Inc. (SMPH) - Daily Chart EOD - 10.28.2019

Foreign investors registered a Net Foreign Selling worth ₱69,373,790.00. They are net sellers year-to-date.

The immediate support is near ₱34.00, while the immediate resistance is near ₱40.00.

My 10SMA-MACD combo is bearish.

SMPH’s risk level is low due to its historical volatility score of 26.81 percent. For new traders, I advise that you prioritize checking those stocks that have a low to moderate risk level.

Trade-Volume Distribution Analysis

Last Price: 38.1
VWAP: 38.294811
Most Traded: 38.75 – 38.1
Most Voluminous: 38.75 – 38.1

SM Prime Holdings, Inc. (SMPH) - Trade Volume Distribution EOD - 10.28.2019

The Momentum Power Indicator of SMPH is bearish because all 4 elements are bearish. The downward movement of the price is more than likely to continue as of the time of writing this analysis.

True Market Sentiment Analysis – EOD

True Market Sentiment on SMPH as of Oct-28-2019 at 03:30PM, with a last price of 38.100.
True Market Sentiment: BEARISH
5 of the top 10 brokers registered a positive Net Amount
3 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: 38.3364
Top 10 Players’ Selling Average: 38.4230
Bonus Info:
11 out of 35 participants or 31.43% of all participants registered a 100% BUYING activity
9 out of 35 participants or 25.71% of all participants registered a 100% SELLING activity

SM Prime Holdings, Inc. (SMPH) - True Market Sentiment EOD - 10.28.2019

The majority of the top 10 brokers are bearish on SMPH.

True Market Sentiment Analysis – MTD

True Market Sentiment on SMPH from Oct-01-2019 to Oct-28-2019 at 03:30PM, with a last price of38.100.
True Market Sentiment: BULLISH
6 of the top 10 brokers registered a positive Net Amount
6 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: 38.1279
Top 10 Players’ Selling Average: 37.9029
Bonus Info:
6 out of 98 participants or 6.12% of all participants registered a 100% BUYING activity
27 out of 98 participants or 27.55% of all participants registered a 100% SELLING activity

SM Prime Holdings, Inc. (SMPH) - True Market Sentiment MTD - 10.28.2019

As far as my Evergreen Strategy is concerned, it’s a confirmed buy signal if the 10SMA-MACD and the Momentum Power Indicator are both bullish. The opposite is true if the 10SMA-MACD and Momentum Power Indicator are both bearish.

Have you already watched the video-on-demand version of my Evergreen Strategy in Trading and Investing in the Philippine Stock Market? I discussed in that video how I find the best candidate stocks for your watchlist, how to know the true market sentiment, how to know if the trend is more than likely to continue, how to find confirmed buy signals, how to find the best price range where I buy, and how I sell more logically and less emotionally.

After watching the video, you will know how to analyze exactly how I analyze. Click here for more information.

Recommendations

Assuming your trailing stop is still intact, you can still hold your position. SMPH might try to hold above the support since the month-to-date True Market Sentiment remains bullish. The only logical time for you to consider topping up is when the 10SMACD and Momentum Power Indicator become bullish again. Please make sure that you do an upward adjustment on your trailing stop every time the price goes higher. You may use my Trailing Stop Calculator.

If you are planning to enter a new position on this stock, I suggest that you wait for the breakout or near the support range between 34 or 36. Calculate your reward-to-risk ratio first. You can use my Reward-to-Risk Ratio Calculator. If you’re happy with that ratio, then, you can test-buy within the dominant range. Calculate your trailing stop immediately once the stock enters your portfolio.

Regardless whether you already have a position on this stock or you’re yet to enter a new position, it’s best that you ask for our latest analysis and recommendation in our Private Clients Forum so we can tell you if the technical buy indicators are still intact. Also, this allows us to alert of you the newest dominant range of the stock so you can buy strategically. If you’re a subscriber of Equilyst Analytics, you have an access to our Private Clients Forum.

Jaycee De Guzman

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