San Miguel has finally broken out from the 125.00, flag formation resistance, as mentioned in my blog entry just yesterday:
Congratulations to those who have bough upon breakout, as technical target for this move should take SMC towards the 150.00 level. To those that have missed out on the breakout, you can wait for the pullback just above the 125.00 level, IF there will be a pullback hehe. Otherwise, just try to buy on a price you're comfortable with, as it is not healthy to go on chasing prices.
Now what to expect for SMC tomorrow? Given that SMC finished very strong on today's session, and on the day high, tendency is that SMC will probably open strong also tomorrow, to fill in pent up demand from today's session. This is possible, as long as the US and European markets doesn't do anything crazy, or the Kim Jong Il finally going mad against South Korea.
Still, as with any trades, always have a proper trading plan. If price retreats, and falls below 115.00, which is the flag formation support level, then one should cut this stock, as this would signal a failed technical move.
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