Stock in Focus: Banco de Oro (BDO)

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Leading financial firm Banco de Oro (stock symbol: BDO) made a decent advance  toward 85 following a steep 4-day rally in late-January and then a minor retracement below the 80 level.

Philippine Stock Exchange_BDO Daily chart, February 26, 2014

BDO Daily chart, February 26, 2014

Now that the 85 level has been reached (mentioned here), bulls must push forward and keep the pressure high. Ideally, 80 would hold off any retracement. If it does not, the next barrier would be around 74-78.

The Relative Strength Index (RSI) has topped out and could ease further.

The all-time high (as of 2003) is close by at 99. 80 and 90 are the lines in the sand for this stock. The ascending trendline seen in the chart is an additional marker.

Do you have BDO in your portfolio? Share your thoughts below!

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