Stock in Focus: PLDT (TEL)

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On the eve of Chinese New Year, PLDT  (stock symbol: TEL) has made a bullish close (but with a downside gap) at 2,698, price which is not far from the price it traded on during my first post. This mentioned down-gap was its third after topping out around 2,800 just a week ago.

2,700 is back at the spotlight and will continue to serve as the line in the sand for this stock. Price could even pay a visit to 2,600 in the near-term.

Commodity Channel Index (CCI) is now under water. It is trading below the zero level and honing in on -100.

TP’s Advice: Be careful of this stock. 2,600 must prevent a breakdown.

TEL Daily chart, January 30, 2014

TEL Daily chart, January 30, 2014

2 Comments

  1. Hi there Trader Phoenix,

    TEL will be one of the stocks to watch this coming days :), if price does go down further 2600 a surge in buy action will surely push it back again. Volume seems to confirm it but MACD and other indicators seem to tell us it will be sideways movement.

    If it goes below 2600 plus the issue out there in the US still drag the PSEi I would like to stockpile again on TEL :) for the next dividend play.

  2. Would be interesting to see if TEL will “do a Louis” as you’ve just specified. :)

    Thanks for dropping by, Louis 😉

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