citisec has posted a technical spotlight on BDO today... advising a buy on the break of 48.5... with a conservative target of 50... and a stop placed at 46.5...
One thing I noticed after holding this stock for 7 days is that
(121) Maquarie has been selling this stock when it hits resistance.
Now not even a teeny-weeny sign of Maquarie on the board.
Hence the breakout...Hope it continues tomorrow...
Goodluck sa mga holders...
Question po. Yung descending triangle before the symmetrical triangle is supposed to be a bearish signal pero sa chart it came out as a continuation pattern for the uptrend? Is this right?
Or maybe volume doesn't support it...
Or since it broke out at resistance instead of the support that one can still project a target price equal to the base.
Sometimes, triangles w/ bearish or bullish tendencies act as reversal patterns. Like that descending triangle you said you saw. Instead of it breaking down, it broke out. That's possible as ascending and descending triangles are around 90% accurate in their direction.
