OPM: Pumping For More Oil?
We first spotted the potential of Oriental Petroleum and Minerals Corp. (OPM) back in October 2012 (check HERE) but unfortunately it did not make a significant move at that time. Instead, it just continued to move sideways. But after it consolidated for less than 7 months since June 2012, it appears to have finally moved out of its cage. As you can see from its chart now, OPM has for the first time closed above the Php0.020 neckline resistance of an apparent cup and handle pattern. Should OPM keep its head above the said level then a minimum upside target of Php0.024 may be achieved. A move back below Php0.020, however, can send it back down to at least Php0.018.
