Saturday, November 30, 2019

PSE:SMPH $SMPH October 1, 2019 Throwback


Disclaimer: Analysis is made by a novice in trading stocks. Thus, the information you read here is not an investment advise. Practice due diligence and always trade at your own risk.

Figure 1: Daily candles for SMPH


In daily candles, the price action is above Ts (Tenkan-sen, Conversion line), Ks (Kijun-sen, Base line), and inside the cloud near to the kumo breakout point (a little above, so did it break). Chikou (Lagging) span is also above the previous candles. There are seven candles closing above Ks after it dips below it. Likewise, the last two candles made the TK (Tenkan-sen - Kijun-sen) cross visible. However, the future is bearish. Risk takers should have bought when the price action crosses the Ts or Ks. For a bullish stance, there should be a kumo breakout (a decisive one), a kumo twist towards a bullish future and a kumo breakout for Chikou span (which happens, since this is just a throwback).

Figure 2: Weekly candles for SMPH


In weekly candles, the price action is within the cloud attempting for a kumo breakout. The price action is below Ks but above Ts. Chikou span is also below the previous price action but is above the cloud.

Figure 3: Monthly candles for SMPH


In monthly candle, the price action is above the cloud, Ks but below Ts. Kumo future is bullish and chikou span is within the previous price action.



Conclusion: Since longer time-frame shows bullish, those who have positions below 30 may add up to their positions. Short term investors may also enter a long position. But since the movement upward is slow, it is not ideal to day traders. Make sure to define a stop loss based on your loss tolerance.









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