SM Investments Corp. Today's price action shows SM hitting an intraday low of P250. It is now sitting at a critical support as shown by the line connecting the previous years' highs. However, what now stand along its way is its head and shoulder reversal pattern which was formed recently. Should this critical support is broken, we might see this stock heading to an all time low. Target price around P200 level.Tuesday, March 18, 2008
SMIC
SM Investments Corp. Today's price action shows SM hitting an intraday low of P250. It is now sitting at a critical support as shown by the line connecting the previous years' highs. However, what now stand along its way is its head and shoulder reversal pattern which was formed recently. Should this critical support is broken, we might see this stock heading to an all time low. Target price around P200 level.
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1 comment:
That is scary. Let's keep a close watch on this one.
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