2,700 as line in the sand for telecom giant PLDT (stock symbol: TEL)? You bet… and amazingly, it still is.
From the low-2,800 highs in late-January, the price decline culminated in a travel back to the 2,600s, as predicted, before price stabilized around the present level. PLDT has been showing strong affinity with the 2,700 level for nearly two weeks now.
Money Flow Index (MFI) will break the 50 mark once price starts to move northward.
3,000 is a reasonable target beyond 2,800. You still need to keep an eye on 2,600.
Do you have TEL in your portfolio? Share your thoughts below!