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?
Showing posts with label PEP. Show all posts
Showing posts with label PEP. Show all posts
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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