Stock in Focus: Filinvest Dev’t Corp. (FDC)

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Despite creating an upside gap today, holding firm Filinvest Development Corp. (stock symbol: FDC) remained capped by the 4.40-4.50 resistance which has been keeping price tamed for several months now.

FDC Daily chart, January 22, 2014

FDC Daily chart, January 22, 2014

A touch and especially a sustained break of the 4.00 psychological handle would be very worrying. Near-term key resistance lies at 5.00.

The Moving Average Convergence Divergence (MACD) is looking to enter a bearish formation, but the opposite would be maintained if price will start moving higher in the coming days or weeks.

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