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SM – Bullish Reciprocal AB=CD

27 Jul

Reciprocal AB=CD


SM INVESTMENT CORPORATION (PSE:SM)One of the index heavyweights that is a short-term downtrend. Buying opportunity actually. If this pattern does not fail, this could evolve into a beautiful butterfly with a around 10% upside.

Other technical note:

Bullish Triangle in the Weekly Chart

RSI – Divergence
STS – About to converge
Now sitting on the triangles uptrend support.

Look like buy for me.

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Posted by on July 27, 2011 in Bullish Reciprocal AB=CD, SM

 

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