Back in mid-December, Manila Water Company (stock symbol: MWC) reached its lowest price since at least February 2012 before it stabilized around 22. The short-term, downsloping trendline from October is poised for a breakage if the current mild bullish price action persists in the near term.
The Moving Average Convergence Divergence (MACD) remains supportive and will follow price as it moves higher.
On the topside, MWC must contend with possible selling around 25-26.
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