News / Philippine Stock Market
How long has it been since interest returned to the GEMINI stocks? Quite a while actually. It’s a good thing to see something finally happening to NI and we believe this is really something big. The downtrend started in October 2007 and was broken around February. Since that time, it’s been a sideways movement. Interest was definitely not there until recently. If we look at what it’s been doing since April, we see there’s an inverted head & shoulders forming and it’s getting ripe for traders. The neckline is sloping downwards, so it’s only a matter of time before this breaks out. Currently, we see the neckline at 11.75. Should it continue to move higher, the upside target would be at 18.75. The MACD is already bullish and seems to be waiting for the new trend to move higher. This is another issue to add to the watch list. Happy days are here again for mining? Recommendation: Wait and see. Buy on breakout with volume. 
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