Tuesday, February 12, 2008

Will ROX Rock?

Roxas Holdings belongs to one of today's top gainers. A review of the chart shows that it's been trying to breakout from an ascending triangle formation for the last 2 days including. No volume however was able to support that. It managed to close strongly today at P3.30 above the breakout point of P3.10. It's MACD above zero line and are now pointing upwards. It is likewise trading above its moving averages - a bullish signal. Will volume support it this time? If it does, target price for this stock would be around P4.10 level.

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