Stock in Focus: Aboitiz Power (AP)

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The 35.00 psychological level in Aboitiz Power Corporation (stock symbol: AP) gave way to pressure soon after I whined about it. 😀

The stock now displays an incomplete ascending trendline after price moved down from the recent 37.10 high.

The Relative Strength Index (RSI) is now flat, just below the 60 level.

Buyers should keep the pressure above 35-36 and simultaneously aim for the highs – 38 to 40.50 (March 7, 2013 all-time high).

Philippine Stock Exchange_AP Daily chart, February 14, 2014

AP Daily chart, February 14, 2014

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