Top Frontier Investment Holdings, Inc. (TFHI), after a rocky trading during the start of the year, may extend its recovery in the days or weeks to come. As you can see from its chart, the stock has recently gone over its resistance at Php96.20. If TFHI can stay above Php95.00 then it may be able to swing itself towards a new target of Php130.00. It may, however, encounter a resistance first at its all-time peak of Php104.90. On the downside, a failure to hold above Php95.00 may send it back to Php85.20. Note that accounting firm Punongbayan & Araullo earlier gave TFHI a fair value estimate of Php178.00 per share. Moreover, Asiasecurities Equities, Inc. which was the aggressive buyer ahead of its rally from its low at Php60.00 last March and onwards has also been seen buying again a total of Php41.40 million worth of stock at an average price Php94.87 since the start of the June.
*Consensus target price or average target price given by the major foreign and local brokers of various stocks are available in our Equity Advisor!
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