After dropping 28% last Nov 2013, SMPH finally resurges and breaksout of the 14 month resistance with strong conviction and volume!
To investors who positioned early and while the stock was still bearish, congratulations as you are now reaping the fruits of your discipline and due diligence. Now that the stock is bullish it can go even higher over time!
For those trading the stock, SMPH is bullish and has broken past the resistances in both 17.92 and also 18.35. If the breakout would continue and the stock would stay above both 17.92 and 18.35 we could see SMPH go to as high as 19.56 up to around 20.65.
However if the price ranges 17.92 and 18.35 does not hold, SMPH could drop to as low as 17.25 over the short to mid term.
I beleive consumption stocks would continue to earn as long our economy remains consumption driven and Filipinos would continue to spend. I hope that this article would help you in your trades and would encourage you to study and research further! May you have a great trading week ahead as your move towards financial freedom! I dream to see 10 Million people invested in the stock market! I believe it can and will be done!
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