What’s Next For CPG?
Century Properties Group (CPG) has reached our initial target of Php1.80 after moving above Php1.60 and breaking out from a small rounding bottom (check our previous post HERE). It appears though that it is having a hard time moving past Php1.80 as it encounters a resistance at this level. If it manages to stay above Php1.80, then a target of Php2.20 maybe achieved. A conclusive move above Php1.80, by the way, means that it has broken out from a bigger rounding bottom. However, a couple of indicators like the MACD and the RSI are showing that CPG may turn down as well. If it does, then it could fall back to Php 1.60. So if it’s me, I’d take profits now then later on, if I plan to re-enter, I’ll wait for it to decisively break Php1.80 or pick up near Php1.60.
