Marcventures Holdings, Inc. (MARC) has nullified its prior break of its uptrend line. On top of that, the stock has likewise broken out of a bullish reversal pattern in the form of a double bottom. Check that its RSI has pierced through the resistance of a similar double bottom as well. These technical events give it a high probability of moving higher in the near term. Furthermore, an unfilled demand of about 1.2 million shares at the closing price of Php6.52 last December 22 also points to a likely upward movement. MARC may therefore move towards Php7.00 or even back to Php8.00 if it can keep its head above Php6.21. A slip below Php6.21, though, may send it to Php5.56.
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