The first day of February brought WEB to one of the PSE's top gainers. A review of the chart shows that indeed a breakout occured from what I see as a bullish ascending triangle pattern. Height of the base is P0.009. Target price is projected at P0.049, a 14% upside from last Friday's close of P0.043. What makes this stronger is that the breakout was confirmed by a huge surge in volume. At the same time, I see it broke out from its descending channel pattern.
Sunday, February 3, 2008
The WEB Breaks Out
The first day of February brought WEB to one of the PSE's top gainers. A review of the chart shows that indeed a breakout occured from what I see as a bullish ascending triangle pattern. Height of the base is P0.009. Target price is projected at P0.049, a 14% upside from last Friday's close of P0.043. What makes this stronger is that the breakout was confirmed by a huge surge in volume. At the same time, I see it broke out from its descending channel pattern.
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