STOCK CHARTS AND ANALYSIS – SMC
STOCK CHARTS AND ANALYSIS – SMC
In accordance with our Independence Day commitment, following is our Technical Analysis of SMC (SAN MIGUEL CORPORATION) as of Sept. 1, 2015.
This is the first of our THREE for FREE for this week
TA – TRT Way – Straight from the Chart
POSITIVE
1. None. Based on technicals, we do not see anything positive going for SMC at this point in time.
NEGATIVE
1. Falling Wedge Breakdown, After completing a Falling Wedge Pattern, a supposed to be Bullish Reversal Pattern, SMC instead of breaking out had a breakdown. This must have precipitated further selloff of the stock. It needs to at least go back to P55.00 to stay in the game.
2. Price action below 15 EMA and 20 SMA – Bearish – Short Term. Price action below 15 EMA and 20 SMA shows that the stock is Bearish on the Short Term.
3. Price action below 50 SMA – Bearish – Medium Term. Price action below 50 SMA shows that the stock is Bearish on the Medium Term
4. Price action below 200 SMA – Stock in Bear territory. As early as January this year 2015, the stock’s price action has been below 200 SMA indicating that the stock is in Deep Bear territory.
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.