• Pennant Target On MARC Hit (Closed Trade) + Update

    Pennant Target On MARC Hit (Closed Trade) + Update

    Marcventures Holdings, Inc. (MARC) continued to surge to a new yearly high of Php4.22 following a breakout from a bullish pennant pattern. From the time of our mention in our Equity Advisor issue last November 2, 2013, the stock had jumped towards its minimum target of Php3.80 – a rise of 18.38% in just 7 trading days! From the time of its breakout, the stock rose 9.84% in just 4 days! After peaking at Php4.22, though, the stock slipped to a low of Php2.53 before it recovered again. Moving forward, the stock may just drift sideways within a tight range with a support at Php3.37 and a resistance at Php3.60. Note that a fall below Php3.37 may bring it down to around Php3.00.

    Fundamentally, the stock is given a 6-12 month consensus target of Php5.50.*


    MARC write-up from the Trading Edge Equity Advisor:

    November 2, 2013

    philippine stock market marcventures holdings MARC bullish pennant 11.02.13


    Marcventures Holdings, Inc. (MARC) looks poised to breakout from what appears to be a bullish pennant pattern. A breakout may be deemed valid if the stock successfully moves above its recent high at Php3.40. The move also has to be coupled with a spike in volume. If that happens then MARC may rise to at least Php3.80 (its 2-year high) in the very near term. However, a failure to break may keep it flat. Worse, it could fall to around Php2.50.


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    *Consensus target price or average target price given by the major foreign and local brokers of various stocks are available in our Equity Advisor!

    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.

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