SMPH price action analysis

SM Prime Holdings, Inc.

SMPH formed up a Bullish Piercing Line pattern as it hits the Major Support area around 35.

See previous analysis on SMPH for reference:
https://psetrends.blogspot.com/2017/06/smph-breakout-continuation.html

Trading Plan
- Accumulate near support area for a position trading (medium to long term position).

SMPH breakout continuation

SM Prime Holdings, Inc.

SMPH is on a breakout continuation from a Cup-and-Handle pattern. The projected target price of this breakout is around 37/38.

See previous analysis on this C&H pattern breakout for more details:
https://psetrends.blogspot.com/2017/05/smph-on-potential-breakout.html
https://psetrends.blogspot.com/2017/05/smph-price-action-analysis.html

SMPH on potential breakout

SM Prime Holdings, Inc.

SMPH is on a potential breakout from a Cup-and-Handle pattern that formed up for over 10 months. The projected target price of this breakout is around 37/38.

It also recently hit the projected target price from a Downward Price Channel breakout around 31.4~31.5. See previous analysis for potential action when trading this pattern.

*Immediate support areas are around 31.4~31.5 and 31.

See previous analysis for additional information including trading plan:
https://psetrends.blogspot.com/2017/05/smph-price-action-analysis.html

SMPH price action analysis

SM Prime Holdings, Inc.

SMPH's recent breakout from a Downward Price Channel consolidation has already hit the base of the projected target price around 31.4~31.5.

*Immediate resistance is also around 31.4~31.5.

On the bigger time frame, SMPH is potentially forming a bullish Cup-and-Handle pattern where a breakout could also potentially send the price towards 37.

Trading Plan
- Scale down position or take some profit if trading the Downward Price Channel breakout. Profit run the rest with appropriate trailing stop.
- Monitor the Cup-and-Handle pattern for a potential position trade.