Stock in Focus: DMCI Holdings (DMC)

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DMCI Holdings (stock symbol: DMC) has now sported an ascending channel after price eased toward 52. A layer of support around 49-52 could give this stock a lift in the near-term.

Mid-term support is seen just above 48. The Relative Strength Index indicator (RSI) is just above 40, following a steady decline since the start of this month. It is notable that price reversed around this same level last month (coinciding with the lower channel). Will it happen again?

(Click here to see the original image)

DMC Daily chart Dec13

DMC Daily chart December 13

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