Lopez Holdings Corporation or LPZ in the Philippine Stock Exchange went on to reach a high of PHP 6.95 after breaking out from an inverted head and shoulders continuation pattern. Since then, it cooled off back towards PHP 6.00. Given its present set-up, though, LPZ could stage a rally in the days to come.
As you can see from its chart above, LPZ is making a “return move” back to the neckline of the inverted head and shoulders pattern at around PHP 6.00. Now, this level could keep LPZ from falling and even push it higher again. The presence of a hidden bullish divergence, where the price registers lower highs and the RSI makes lower lows, further reinforces the possibility of it rallying soon. Therefore, if the PHP 6.00 support holds then it could rally back towards at least PHP 6.50 again.
Related posts:
- Lopez Holdings Corporation (LPZ) Makes A Swing Up Lopez Holdings Corporation which used to be Benpres Holdings Corporation…
- Is USD/JPY’s Rally Over? After hitting a low of 81.08 last February 4, the…
- JG Summit Holdings Primed To Move Higher? JG Summit Holdings or JGS in the Philippine Stock Exchange…
Related posts brought to you by Yet Another Related Posts Plugin.
