MARC To Extend Its 2014 Run
In July 23 edition of our Equity Advisor, we noted that Marcventures Holdings, Inc. (MARC) was about to complete bullish coiling pattern that would eventually lead it to a target of around Php6.70. As you can see from its chart, the stock has not only broken out of the said pattern but has also managed to tally a new YTD high of Php5.50. This recent breakout plus an unfilled demand amounting to over 1.2 million shares at the closing of August 7 may likely lead it to rise in the very near term and eventually head to its target of Php6.70. Still a slip below Php5.00 may cancel the said break and send it down to Php4.00.
MARC write-up from the Trading Edge Equity Advisor:
July 23, 2014
Marcventures Holdings, Inc. (MARC) looks poised for a continuation of its uptrend as it moves closer to the last portion of a coiling pattern. A breach above Php5.30 may send it to a new target of Php6.70 while a move below its uptrend support may trigger a move lower and send MARC to Php4.00.
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