SM Investment Corporation (PSE:SM) is priced at ₱1068 per share as of 03:30 PM GMT+8 on November 18, 2019. It is up by 0.75 percent.
The Total Turnover Value is at ₱913,281,135.00. The foreign traders are the main drivers of SM today.
Foreign investors registered a Net Foreign Buying worth ₱628,387,345.00. They are net buyers year-to-date.
The immediate support is near ₱1048.00, while the immediate resistance is near ₱1091.00.
My 10SMACD combo is bearish.
SM’s risk level is low due to its historical volatility score of 43.58 percent.
Trade-Volume Distribution Analysis
Last Price: ₱ 1068
VWAP: ₱1066.86736
Dominant Range: ₱1066 – ₱1069
The Momentum Power Indicator of SM is bearish because only 3 of 4 elements are bullish.
It’s more than likely for the price to either move sideways or go down because the 10SMACD and the Momentum Power Indicator are not yet bullish.
True Market Sentiment – EOD
True Market Sentiment on SM as of Nov-18-2019 at 03:30PM, with a last price of ₱1068.00
True Market Sentiment: BEARISH
4 of the top 10 brokers registered a positive Net Amount
5 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱1067.1619
Top 10 Players’ Selling Average: ₱1067.2376
Bonus Info:
3 out of 33 participants or 9.09% of all participants registered a 100% BUYING activity
13 out of 33 participants or 39.39% of all participants registered a 100% SELLING activity
True Market Sentiment – MTD
True Market Sentiment on SM from Nov-04-2019 to Nov-18-2019 at 03:30PM, with a last price of ₱1068.00
True Market Sentiment: NEUTRAL
5 of the top 10 brokers registered a positive Net Amount
5 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱1059.4220
Top 10 Players’ Selling Average: ₱1057.9073
Bonus Info:
3 out of 66 participants or 4.55% of all participants registered a 100% BUYING activity
18 out of 66 participants or 27.27% of all participants registered a 100% SELLING activity
Recommendations
Even if today’s volume is higher than the 50 percent of SM’s 10-day volume average, both 10SMACD and Momentum Power Indicator registered a bearish rating. That is a sign that the bulls hesitated to play it hard today. If we don’t see the price move above ₱1,070 to ₱1,075 with a volume that’s higher than the 50 percent of the stock’s 10-day volume average, we might not see it test the resistance at ₱1,091 this week.
I recommend that you hold your position if you have a position on SM and if your trailing stop is still intact. Do not top up until both 10SMACD and Momentum Power Indicator are bullish. I don’t see any reason for you to reduce the percentage of risk in your trailing stop since the True Market Sentiment in the monthly chart is still neutral.
If you don’t have SM yet but you’re planning to do a test-buy, it’s best that you wait for a breakout above the resistance or a pullback closer to the support so you’ll get a better reward-to-risk ratio. I don’t find the reward-to-risk ratio attractive relative to the distance of the support and resistance from the last price.
I also recommend that you ask for our latest analysis on SM in our Private Clients Forum after the first 5 minutes of trading tomorrow so we can tell if the prevailing True Market Sentiment is in favor of the buyers. SM is also in our Investment Guide for Long-term Investors. Check that guide for long-term investors. We update it four times a day: 10am to 11am, recess, 2pm to 3pm, and EOD.
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