GTCAP: On Track To Reach Target

GT Capital Holdings, Inc. (GTCAP) has been on a steady uptrend since November last year. Though, another bounce may happen again since GTCAP is presently resting at its uptrend line. Earlier, it broke up from an ascending triangle formation with an estimate target of at least Php780. It has not reached this target yet. A bounce off the support will keep it on track to reaching the said target price. On the negative side, a break of the uptrend line could send GTCAP back down to at least Php700.

Buy at present level

Target at Php780

Cutloss at Php718

 

GTCAP write-up from the Trading Edge Equity Advisor:

February 4, 2013

GT Capital Holdings, Inc. (GTCAP) may extend its ascent in the very near term as it has just broken out from an ascending triangle pattern. Note that it has done so with a breakaway gap, implying increased demand on the stock. Based on the height of the triangle, GTCAP may aim for around Php780.00/share. Additionally, a turn‐up in its MACD suggests that it may start to run up again.

Buy at present level or closer to Php690

Target at Php780

Cutloss at Php670

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