News / Philippine Stock Market
An overlooked stock, APC has shown us a probable reversal pattern that we can trade.
APC, from the Sinophil Group, has gone sideways since February after it fell from its high of 1.28 back in June 2007 and has patiently been finishing its pattern. Once it tests the neckline, we can give this stock serious consideration and line it up in our watchlist.
The price of APC is already above the 2 moving averages and it has room to rise higher. The 260MA is acting as a resistance at 0.48. However, before that is reached, the neckline must first be broken at 0.45.
The MACD has already shown us a bullish divergence since February, strengthening our faith that this stock is getting ripe for its bullish movement.
When it breaks out of the pattern, we can then set a target of 0.68 for APC. 
|
