Stock in Focus: Pepsi-Cola Products Phils. (PIP)

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Pepsi-Cola Products Philippines (stock symbol: PIP) gapped up in trading today and closed 1.99 percent higher than Tuesday on the back of broad-based advances seen in the local stock market.

The TRIX has maintained its positive formation since mid-December and is now about to cross the zero level in full.

The main hurdle for this stock, right now, is the 5.00 psychological level. If this area gets taken out with conviction, price could enjoy smooth-sailing upside action for quite some time (until 6.00). Support remains at 4.00-4.50.

PIP Daily chart, January 22, 2014

PIP Daily chart, January 22, 2014

 

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