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!
Showing posts with label MER. Show all posts
Showing posts with label MER. Show all posts
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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