The stock of DMCI Holdings (stock symbol: DMC) showed remarkable resilience throughout the month of February.
Sellers only managed to drive a very brief visit below the 60 level since my post a month ago. Buyers were all-out supporters this February and so the ascending trendline has remained intact pretty much since my first post.
The Detrended Price Oscillator (DPO) has remained bullish above the zero level for quite some time.
Right now, there is an opportunity for bulls to chart the destiny of this stock. Will we see 70 break in the coming week/s? 70 remained shut this week, so it’s still anybody’s ball game. Nevertheless, the ball is firmly in the court of bulls.
Watch the trendline and the 70 level. False breakouts can and do happen, so don’t be greedy. If you want to get in on this stock, it’s better to wait for lower prices.
Do you have DMC in your portfolio? Share your thoughts below!