Monday, May 17, 2010

PHILIPPINE STOCKS: REPUBLIC CEMENT CORPORATION – May 17, 2010

Republic Cement Corporation or RCM as listed in the Philippine Stock Exchange created the triangle formation (red lines) from August of 2009 to April of 2010 then broke out (red circle) from the said formation on April 21, 2010. After that, it started forming a flag (yellow lines) last April and broke out just last week. Now it looks to head up further more as it hasn’t shown any signs of weakness. Personally, I would have traded RCM if I was able to catchup on the April 21 breakout (even if the stocks look illiquid) but I never noticed the triangle formation until today.

No comments: