Stock in Focus: Bank of the Philippine Islands (BPI)

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It looks like leading financial firm Bank of the Philippine Islands (stock symbol: BPI) has posted a near-term double (or triple) bottom lately, a welcome respite from the bloody red price action seen back in November and December.

The Detrended Price Oscialltor (DPO) has eked out gains since late-January and held on to it since.

Ideal near-term target for this stock is around 105-115. As a prerequisite, 80-85 must hold on the downside.

BPI Daily chart, February 3, 2014

BPI Daily chart, February 3, 2014

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