Although trading with low volume levels for several weeks now, the price of Holcim Philippines (stock symbol: HLCM) has remained afloat quite well. The stock is now poised to penetrate 16. If buyers can keep price supported above 14, it would cement their near-term control of this stock. On the other hand, a break below 10-12 would negate their short-term efforts.
The TRIX is in bearish formation but it has maintained its stance above the zero level for some time now.
The December 2010 high of 17 is just ahead. If bulls act accordingly, price can break through and we may see new highs for this stock. If so, the potential initial upside target area is 20-25.