Inability to Hold Highs May Lead DAVIN To Correct
Lucio Co’s Da Vinci Capital Holdings, Inc. (DAVIN) surged towards its minimum target of Php1.60 and more following a breakout from a basing pattern in the form of a cup and handle. Its thrust upwards, however, was capped by its low of around Php2.50 that was marked back in 2012. Moving forward, the stock’s inability to hold onto its interim high of Php2.60 even on a significant amount of volume may lead it to correct in the very near term. A presence of a bearish meeting line where its advance was met with heavy sellers points to a similar weakness soon. It may only invalidate its near term bearish bias once it successfully goes over its recent high of Php2.60. A move past that may then send it to Php3.00. Note, though, that the stock’s bias over the midterm now shifts to the upside given its breakout last week from a bullish reversal. Also, a major support that should hold remains to be the Php1.20 marker.
DAVIN write-up from the Trading Edge Equity Advisor:
May 11, 2014
Lucio Co’s Da Vinci Capital Holdings, Inc. (DAVIN) may resurrect in the very near term following its surge past Php1.20. As you can see from its chart, the stock also managed to breakout from what looks to be a big cup and handle pattern on a good amount of volume. If DAVIN can stay above Php1.21 then it may be able to reach for its new minimum target of around Php1.60. A slip below Php1.21, on the other hand, may bring it back to Php1.00…
DAVIN write-up from the Trading Edge Equity Advisor:
March 20, 2014
Here’s another speculative issue in Da Vinci Capital Holdings, Inc. (DAVIN). As you can see from its chart, the stock had previously broken out from a rounding bottom pattern. Following the said break, the stock indeed reached for its pattern target of Php1.20 before falling back to its previous hurdle of Php1.00. Presently, the stock now lies smack at its Php1.00 floor. A support here plus an unfilled demand amounting to 1.163 million shares at the yesterday’s close of Php1.00 points to a possible bounce soon. If DAVIN can hold onto Php1.00 then it may be able to rally towards Php1.10. A move past that may then bring it to Php1.20. On the other hand, a fall below Php1.00 may send it to Php0.90…
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