San Miguel Brewery (SMB) - Continues to Defy Gravity, Closes at 27.05

For the 9^th straight trading session, San Miguel Brewery continued to establish long white candles, to form a very steep pole! Many are certainly saying that SMB must at least correct and consolidate, before moving upwards, but still, there are no signs that this stock is going to slow.

But if people are clamoring for a correction, it did correct earlier to 18 pesos, before assaulting a high of 28.30. And folks, that move to 18.00 may be the only correction we will have hehe. No, just kidding. :D

People have been asking me for several days already whether to buy SMB, and all those time, I said no. Now, they may be wanting to kill me for saying no haha. Seriously speaking, buying SMB at this point is very fool hardly, and with an RSI of 98.64, this is absolutely cannot be sustained.

While SMB still has strong momentum left to carry it higher in tomorrow’s trading, it is bound to fall anytime soon, so just observe from the sidelines for now, and ask for balato na lang  to those who profited from SMB hehe. And if you are one of the lucky ones that have SMB, balato naman jan hahaha!