SM Investments Corporation (SM) closed on July 25, 2019 at 1015 per share, up by 2.53 percent. SM is up by 2.53 percent WTD, up by 4.75 percent MTD, and up by 10.63 percent YTD.
Foreign investors were the ones who pulled the share price higher today. They registered a positive Net Foreign worth P157.8 million.
The major support and resistance levels since the same period last year are 863 and 1016, respectively. Once the resistance at 1016 is broken, 1141 will act as the next resistance level.
SM’s three simple moving averages are already aligned in a perfect bullish position. My proprietary 10SMACD combo is valid. My proprietary Uptrend Momentum Analyzer is bullish. This shows that the uptrend is more likely to continue.
RSI is still in the neutral level. I like this because this means the price still has more space to wobble above the resistance at 1016.
SM’s risk level is low based on its current volatility score.
The +DMI is hovering the -DMI but the upward momentum is not yet trading inside the confirmed strong upward momentum category.
SM’s risk level remains low due to its historical volatility of 36 percent.
Trade-Volume Distribution
Last Price: 1,015.00
VWAP: 1007.238869
Most Traded: 998 – 999
Most Voluminous: 1015 – 1015
Watch out for the price between 999 to 1015 tomorrow. SM might trade actively within that range again for the last trading day of the week. The upward movement is more likely to continue since the dominant range is closer to the intraday high than the intraday low.
True Market Sentiment
True Market Sentiment of SM as of Jul-25-2019 at 03:30PM, with a last price of 1015.00.
5 of the top 10 brokers registered a positive Net Amount
3 of the top 10 brokers have a higher Buying Average than Selling Average
True Market Sentiment: BEARISH
Top 10 Players’ Buying Average: 57.0639
Top 10 Players’ Selling Average: 57.4881
Bonus Info:
6 out of 33 participants or 18.18% of all participants registered a 100% BUYING activity
13 out of 33 participants or 39.39% of all participants registered a 100% SELLING activity
The risk-averse stance of most of the top 10 brokers is felt in today’s bearish true market sentiment. It could be because the stock is approaching its immediate support level already. Participants want to eavesdrop first with each other’s next move to see if someone is willing to buy a significant amount of shares at a higher price. This doesn’t mean the overall sentiment is bearish, however. This true market sentiment is my barometer for the top 10 brokers’ stance on the stock for the said period.
Recommendations
If you have had SM and if it’s still trading above your trailing stop loss, you still have some data-driven reasons to top-up within the dominant range and not at any price. I don’t support the idea of using a Buy Below Price.
If you are yet to enter a new position on SM, please calculate your reward-to-risk ratio first. Understand that the last candlestick of SM is already a lot closer to its resistance than the support level. So, if you’re going to calculate your reward-to-risk now with respect to the distance of the last candlestick to the immediate support and resistance level, you will surely get a thicker potential risk than your potential reward. So, ask yourself, “Am I better off buying on breakout?” Don’t get the answer from me. Only you know your risk appetite.
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