Stock in Focus: DMCI Holdings (DMC)

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Remember my question here? Well it did. :)

DMCI Holdings (stock symbol: DMC) went on to rally from this lower trendline (lower channel) and moved past the 60 psychological level a few days ago. Now, the 60 level acts as a magnet to both sides, but latest price action also suggests this stock is tired and may take some rest.

Any declines from here on could encounter support around the ascending trendline, which happens to be above the 55 level. If this area does not hold, next stop is the 50 level.

The Stochastic indicator has just formed a bearish cross right around the 70 level.

DMC Daily chart, January 30, 2014

DMC Daily chart, January 30, 2014

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