Our recent play on DMCI Holdings, Inc. (DMC) is actually very basic yet very effective. As you can see from its chart, DMC soared towards above Php60.00 after breaking free from the Php56.00 resistance. Unfortunately, it was not able to maintain its lead at that time as it fell back towards the previous resistance at Php56.00. In our Equity Advisor issue last April 28, we noted that DMC would likely find support at this level and that it would most probably use this support to springboard it back towards Php60.00. Magically, DMC did exactly what was on the script as it quickly rose from Php56.00 to hit our target of Php60.00. 🙂
DMC write-up from the Trading Edge Equity Advisor:
April 28, 2013
Here’s a quick play on Metropolitan Bank & Trust Company (MBT). Last April 22, MBT finally broke above its resistance at Php120.00. As you can see from the chart, its RSI also broke above a resistance drawn above it, making the move more valid. In any case, MBT may aim for a target of Php130.00 if it is able to stay above Php120.00. The dip in its prices during the last 4 days may actually be taken as an opportunity to go long given the fact that our initial target is not reached yet. However, if MBT falls below Php120.00 then it may further slide down to around Php110.00.
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