Saturday, August 8, 2009

PHILIPPINE STOCKS: GEO (GEOGRACE RESOURCES PHILIPPINES, INC.) 8-8-2009


Among the many companies publicly listed in the Philippine Stock Exchange, GEO, has been forming a cup and handle formation (indicated by the bigger red arc is the cup and and the smaller red arc indicates the handle) as seen in the picture. This is a bullish pattern and the price potential is on the upside. My breakout point would be the price going above the neckline (red horizontal line) or above 0.81. Once it does, a good buy there is. 1 peso is easily achievable. Click image to enlarge!

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