DMC Stocks Up 1,950% In 2 Years!

Hi everyone, that’s right! The title states it clearly! Before, I mentioned the stocks of JG Summit Holdings gaining 1,600% in less than 2 years from 1.58 pesos to an all-time high of 27.00 pesos (kindly see this link)

PHILIPPINE STOCKS: DMC (DMCI HOLDINGS, INC.) 10-3-2008

From the last post about DMC, it had failed to bounce back from its previous support (violet diagonal line). Until when is its price going to stop falling? That we don't know. As we can see, it's possible that it can touch any of the incoming support lines (three violet horizontal lines) before it bounces and head up again. We also need to take into account that it can even go way pass the supports (three violet horizontal lines) and drop furthermore. Click image to enlarge!

PHILIPPINE STOCKS: DMC (DMCI HOLDINGS, INC.) 9-4-2008

The downtrend of DMC for the past months has possibly come to an end since it's now starting to move sideways out of the resistance line (green line) in the picture. On the other hand, buying DMC at its current price is also a good strategy because the 4 year support as indicated by the violet line has so far been respected. Once you get into this stock, it's either you hold until it bounces up or cut when it goes below the support (violet line).