Philweb Corporation (WEB) has been on a major downtrend for more than a year now. Notice, though, that the stock appears to be in a process of completing a potential basing pattern that resembles either a rounding bottom or a cup and handle. Following a move past the Php6.14-Php6.30 area, WEB may finally put itself in a new uptrend that will that will possibly send it to at least Php7.80. A move past that may then launch it to its next healthy objective of Php14.00.
*Consensus target price or average target price given by the major foreign and local brokers of various stocks on top of index names are available in our Equity Advisor!
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