• APX Still Eyeing Php6.00 Despite A Likely Near Term Dip?

    APX Still Eyeing Php6.00 Despite A Likely Near Term Dip?

    Apex Mining Company, Inc. (APX) caught the attention of the public as it suddenly rose by 50% on heavy volume last July 2. Favor on the stock appeared to initially continue the following day as it jumped right at the opening bell. Its failure to sustain its initial thrust yesterday, however, in addition to the immediate closure of its rising gap is an indication of a clear profit taking. This may lead APX to temporarily correct to as low as Php4.00. Nonetheless, it may still aim for Php6.00, which is a pattern target of an earlier target from a higher low base area formation reminiscent of a cup and handle, as long as it remains above Php4.00. A fall, though, under Php4.00 may negate the mentioned upside potential and bring it down to its base at Php3.00.

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