Caught the Floor of Marcventures!
Marcventures Holdings, Inc. (MARC), in our note given in our advisor issue last January 27, it was stated that the stock had found a bottom and that it would start to climb and reach for a near term target of Php2.00. Just 15 trading days since that call, MARC had indeed reached the said goal and more, giving it a 21.2% in just 3 weeks. Moving forward, a newer break above Php2.00 may have translated to a bullish reversal that may lead it to extend its rally towards an adjusted price objective of Php2.60.
MARC write-up from the Trading Edge Equity Advisor:
January 27, 2016
In our Equity Advisor issue last January 5, we noted that Marcventures Holdings, Inc. (MARC) would further descend and head to a downside target of Php1.40 following its breakdown from its prior support at Php1.88. As you can see from its chart above, the stock has indeed achieved the said objective. Moving forward, MARC may now start to swing higher because of an occurrence of a notable bullish engulfing candle. Its last candle that it printed is ‘notable’ because of the fact that it engulfs not one but more previous candles. Anyhow, MARC may continue to extend its bound until it hits a resistance at Php1.88 to Php2.00.
MARC write-up from the Trading Edge Equity Advisor:
January 5, 2016
Marcventures Holdings, Inc. (MARC) will likely continue to slide in the near term. A recent break below its October 2015 low of Php1.88 may further weigh on the stock. Such may then lead it to fall until it reaches its next support at Php1.40 to Php1.56.
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