PEP is currently on an upward trend despite the weakness in our market. Last Friday, it reached a high of P1.46 before closing at P1.34. It's MACD above zero and pointing upwards. It is now poised to take out its 52 week high of P1.52. A look at the chart however shows that the last time PEP reached P1.50 was way back July 13, 1999. Thus I'm seeing a cup and handle formation in the making. Breakout point is above P1.50/P1.52 and I see an upside of at least P1.00 equvalent to around a 66% return. Are you ready for a PEP rally?Monday, February 25, 2008
PEP Rally
PEP is currently on an upward trend despite the weakness in our market. Last Friday, it reached a high of P1.46 before closing at P1.34. It's MACD above zero and pointing upwards. It is now poised to take out its 52 week high of P1.52. A look at the chart however shows that the last time PEP reached P1.50 was way back July 13, 1999. Thus I'm seeing a cup and handle formation in the making. Breakout point is above P1.50/P1.52 and I see an upside of at least P1.00 equvalent to around a 66% return. Are you ready for a PEP rally?
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