Some Like It Hot

While the PSE index is taking a beating, a number of 3rd liners have taken center stage over the last few trading days. Just look at ISM, PA, AJO, the GEMINI stocks to name a few. One stock I'm looking now is LIHC. After liquidating much of my holdings, I got tempted to buy some of this issue. A look at the chart shows that it broke from a symmetrial triangle formation. Although the breakout happened near its apex, it has been accompanied by a surge in volume when it closed yesterday at it's high of P9.80. Today, low is at P9.9 with a high of P10.50 and with a higher volume. I managed to snatch some at P9.90 and P10 before it closed at P10.25. MACD is still above zero and about to cross the signal line. Target price is at P15. I see resistance however around P11.25.

Let's see how this develops. Good luck to all holders.