Last March 16, we noted that there could be a good quick play on International Container Terminals, Inc. (ICT) especially if it falls back down to the Php85.00 level. We reasoned that in the event that it does, it may use that as a support that could push it back up towards its previous high near Php90.00. That is exactly what happened just a few days after as ICT indeed fell back to Php85.00 before immediately bouncing towards our target of Php90.00 and even exceeding it reaching a high of Php96.95. 🙂
ICT write-up from the Trading Edge Equity Advisor:
March 16, 2013
Here’s a quick trade idea on International Container Terminals, Inc. (ICT). As seen from its chart, ICT is still on an upward trend although it hit some resistance at Php90.00 before falling down towards its support at Php85.00. The Php85.00 support may continue to keep it afloat. If so then ICT may bounce back and revisit its previous high near Php90. But since the index in general is in correction mode then perhaps it would be wise if we jump in as close to Php85.00 as possible.
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