Thursday, August 20, 2009

PHILIPPINE STOCKS: URC (UNVERSAL ROBINA CORPORATION) 8-20-2009


Universal Robina Corporation or URC, a publicly listed company in the Philippine Stock Exchange, has been performing well as its stock value increased. From my previous post I mentioned that it was creating an ascending triangle formation but not. As seen in the chart, URC is moving in a "range" bouncing off the support line (red diagonal line) couple of times . Despite the area pattern confusion from the previous post of this topic, it still achieved its minimum target price of 9.5. Click image to enlarge!

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