News / Philippine Stock Market
BPC is showing some resurgence and maybe even a bit of resilience. After being battered for so long, it entered a sideways consolidation for more than a month. And then it finally gains strength to rise from its stupor.
Range traders may have had their fun for a while with this stock. But now it’s the breakout artists’ turn. It just broke the resistance at 1.16 and it closed at 1.24. The move was quite impressive considering we haven’t seen this kind of volume since December 2006.
This is actually a short-term play since all indicators are still not confirming that it has turned bullish. Therefore, if you were able to ride BPC at 1.18, you may want to get out at 1.36. A 16% profit is nothing to complain about, especially in this bear market.
Remember, this is still considered a rally so get in and get out quickly. 
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