Stock in Focus: Rizal Commercial Banking (RCB)

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Rizal Commercial Banking Corp. (stock symbol: RCB) still managed to create a small gap this week (Wednesday), despite the average (less than 2 peso) weekly trading range it formed.

The Moving Average Convergence Divergence (MACD) is now sporting a positive formation right at the zero line, and this will tread further higher if price makes some considerable advancement.

Critical support is not far away: August 28’s 40.75, which is the lowest seen since mid-April 2012. The 40-42 area must be protected if buyers want this stock to go higher. I would like to see price make some action and move toward 50 in the next 4 to 10 days.

RCB Daily chart, January 10, 2014

RCB Daily chart, January 10, 2014

 

orMerriam-Webster: or definition: —used as a function word to indicate an alternative.

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