Friday, May 14, 2010

PHILIPPINE STOCKS: CPM (CENTURY PEAK METALS HOLDINGS CORP.) – May 14, 2010


When Century Peak Metals Holdings Corporation was publicly listed in the Philippine Stock Exchange as CPM last October of 2009, it went from 1.5 to 7 pesos per share in a couple of months then the price broke down from its uptrend (dotted violet line) declining to around 3 pesos per share. It took a month after the downtrend ended as the stock price broke out from the downtrend’s resistance line (green dotted line) back in February of 2010. From there on, it started moving sideways and currently, not much action is taking place in CPM aside from the 3.1-3.8 trading range (indicated by the red lines) but if a break from the range occurs, that’s a different story.

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