From 9.50, SMB, or San Miguel Brewery has continued to rocket and close at 14.00, in a span of 5 trading sessions! Now, lucky holders of this stock should now consider locking in profits on tomorrows trading session, preferably on the early part of the session, as this price spike cannot be sustained for an extended period of time.
Now, what should investors and traders do next? Well, you can wait for price to correct a bit and stabilize a bit. With this kind of price action, this has a potential to form a flag formation, with the spike serving as the pole. Now, if a flag or pennant formation does indeed happen, one can buy on breakout from the area pattern formed.
Until then, I will monitor further price developments from this stock, and will update you guys. Stay tuned.
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