MERalco appears to have broken out from what to me is a descending wedge pattern. It closed last Friday, Feb. 1 at its high of P84 coupled with its highest volume turnover since 9/4/2007. Looks like possibly heading towards the P100 mark but expect heavy resistance between P90 - P100. Will MER reach boiling point? Abangan!Sunday, February 3, 2008
MERcury Rising
MERalco appears to have broken out from what to me is a descending wedge pattern. It closed last Friday, Feb. 1 at its high of P84 coupled with its highest volume turnover since 9/4/2007. Looks like possibly heading towards the P100 mark but expect heavy resistance between P90 - P100. Will MER reach boiling point? Abangan!
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