Saturday, 29 September 2007

Make My Christmas Merry, SMPH

One of the slowest moving index issues also happens to be one of more predictable stocks around. SMPH always follows the seasonal rise during the 4th quarter as many would visit their malls to buy items for the holidays. Therefore, it is only right that we take the opportunity to join the bandwagon (if there's any) of buying SMPH in time for Christmas.

Currently, it is consolidating inside an ascending triangle that has a small breach in the middle of the pattern. If I were liquid, I would plunk my money on SMPH at 12.25 and ride it out when it rises up to the target of 14.75. The MACD is already becoming bullish and we see that this is gaining momentum to go higher.

Looks like it will be a merry christmas after all!

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