2014 may be a year to remember for Victorias Milling Company, Inc. (VMC) as it appears to have broken out from a rather big cup and handle pattern. If the said breakout is sustained and the stock manages to keep its head above Php2.18 then it may be able to rise towards its pattern target of around Php3.25. Meanwhile, a fall below its neckline of Php2.18 may invalidate today’s move and bring VMC back to at least Php2.00.
For those who are interested in technical analysis or learning how to profit using charts, we have an upcoming Technical Analysis Course on February 22 – 23, 2014. For more information, you may send us a direct message here or text/call (+63) 917 899 90 09.