Technicals Talk: SM Investments Corp. (SM) – 20 Dec 2023 by Regina Capital Development Corp.
It appears that SM might be already at its peak as shares show signs of slight decline.
Technicals Talk reports contain our partner brokers’ technical analyses of select PSE stocks. Technical Analysis relies on trends and price movements and is typically used when doing short-term or day trading.
It appears that SM might be already at its peak as shares show signs of slight decline.
After three consecutive days of ascent, traders have started to profit-take on JFC.
Strong momentum on RSI and Stochastics.
Ascending triangle pattern.
Descending triangle pattern.
Weak Momentum on RSI and Stochastics.
BLOOM banked today’s trading session, leading the index members with a gain of +3.02% at 9.90.
Shares saw selling pressure build up as the stock failed to breach through its resistance.
ALI gained by as much as 21% after bouncing from its support at 26.20 which was the swing low last Sept 20 and broke out of its sideways or rectangle pattern.
Price near multi-year low.
Bullish divergence on RSI.
Stochastics at oversold territory.
The stock has been plagued by sellers again which drove the indicators deeper into the bearish region.
ICT ended strong yesterday up by 4% and closed at its 52-week high of 228.80.
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