Captured the Bottom on EEI Corporation!
EEI write-up from the Trading Edge Equity Advisor:
November 30, 2015
EEI Corporation (EEI) has unfortunately broken below its supposed support at Php6.00 following the announcement of its removal from the MSCI Small Cap Index. As such, the stock has slid all the way to a low of Php4.54. Note, however, that there is NO negative fundamental change in the company. The only reason that it dropped is that the passive funds that held it had to let it go for them to be in line with the said index. Anyhow, an extreme oversold condition as seen in its RSI and a ‘normalization’ of its trading may likely lead it to bounce until it hits a resistance either at Php5.50 or at Php6.00.
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