STOCK CHARTS AND ANALYSIS – SBS
STOCK CHARTS AND ANALYSIS – SBS
In accordance with our Independence Day commitment, following is our Technical Analysis of SBS (SBS PHILIPPINES CORPORATION) as of Oct. 23, 2015.
This is the first of our THREE for FREE for this week.
TA-TRT Way – Straight from the Chart
POSITIVE
1. Retracement within 38.2% Fibo. The stock has gone into consolidation and has not retraced more than 38.2%.
2. Price action above 50 SMA – Bullish – Medium Term. Although the 50 SMA (Gold Line) is not yet clearly showing since the stock has only been existing for a few months only, the stock’s price action above 50 SMA shows that it is Bullish on the Medium Term.
NEGATIVE
1. Price action below 15 EMA & 20 SMA – Bearish Short Term. The stock’s price action below 15 EMA & 20 SMA shows that it is Bearish on the Short Term.
NEUTRAL
1. Consolidation in Descending Triangle Pattern. The stock is presently consolidating in a Descending Triangle Pattern. This could either lead to a Breakout or a Breakdown.
NOTES:
1. Positive points are things that could work in your favor. Negative points are things that you have to watch out for.
2. On the opposite side of Pattern Targets are Pattern Failures. In case you decide to take this trade, always remember to set a stop loss based on your established risk tolerance level.
3. September is a very significant month for us. It was at the same time this year that we introduced Responsible Trading to mainstream social media. Starting September 1, 2015, since you are already familiar with our caption “TA – The Responsible Trader’s Way – No Hyping, No Bashing, Just Plain Cold Facts” we are changing this to TA – TRT Way – Straight from the Chart.
The Chart and Analysis is presented for educational purposes only and should NEVER BE TAKEN as a RECOMMENDATION to BUY, HOLD, or SELL.
Please trade with CAUTION, please trade with CARE. As always, IT’S YOUR TAKE, IT’S YOUR CALL. IT’S YOUR MONEY AFTER ALL.
Good luck on all your trades.