• Headlines: MB Seeks Gains

    Headlines: MB Seeks Gains

    Manila Bulletin Publishing Corp. (MB) has caught our attention recently due to its apparent activity. For about 5 years now, MB has been in hibernation mode as it was just moving sideways after gradually sliding from its peak of around Php3.00 back in 2003. Its trading volume was minimal and negligible. Its recent activity leads us to believe that something may be up on this stock. Its technicals actually support that. As you can see, MB is poised to break any time soon from a rounding bottom formation. If it successfully breaks and closes above the Php1.00 resistance then it may finally reverse its previous bad luck and aim for at least Php1.50.

     

    Buy on breakout (Php1.05)

    Initial target at Php1.50

    Cutloss at Php0.90

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