Rizal Commercial Banking Corporation (RCB) has popped out of the investors’ radar screen following its magnificent run last Friday. Although it was not able to hold on to its highs, the stock was still able to breakout on significant volume from either an inverted head and shoulders or a cup and handle. If RCB can stay above Php50.00 then it may be able to aim for at least Php60.00. On the other hand, a close below php50.00 may negate the break and send it to at least Php46.50.
*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 May 24 – 25, 2014. For more information, you may send us a direct message here or text/call (+63) 917 899 90 09.