Wednesday, June 10, 2009

PHILIPPINE STOCKS: URC (UNVERSAL ROBINA CORPORATION) 6-10-2009


The stock value of Universal Robina Corporation or URC or even better known as the company who makes C2 green tea, jack and jill chippy, nips, magic flakes and many more is steadily rising after years of downfall. This company listed in the Philippines stock exchange has broken out from the ascending triangle formation (indicated by the red horizontal and diagonal lines) last May 8 as seen in the charts. After it broke out, it made a return move and bounced from its new support (red horizontal line) yesterday. Strategically trading the stock, I would enter it at its current price placing a stop-loss below 7.6 or once it goes below the support line (red horizontal line) with a target price of 9.5-9.8. Click image to enlarge!

No comments: