Cebu Air (stock symbol: CEB) failed to catch some good wind and sagged for many months last year. The stock flew erroneously from around 85 down to 45 in a span of 8 months or so. Will it take flight this 2014?
So far, the stock is having a good year, with price now above 50 after hesitating a few days ago. Now, the ‘fun part’ will start as price attempts to get past its first hurdle at 55… that is assuming price will not revisit the 40s in the near-term.
The Stochastic’s first band is now above the 80 level, and we could see price take a rest in the coming days.
Current line in the sand is the 50 psychological level.