The best offense is a strong defense.
This seems to be the mantra engraved in the minds of the supporters of holding firm Aboitiz Equity Ventures (stock symbol: AEV) as they’ve executed a great defense along the 50 level – soon after this post which was written exactly one month ago.
After this defense, they took on the offensive stance and scared off sellers, taking AEV to newer highs. The stock rose 1.18 percent today to a fresh high of 60.30.
The Stochastic indicator remains in overbought territory as the stock forges its way higher.
If sellers start to return, buyers must utilize their defensive tactics again and prevent a break of the ascending trendline as well as the 54-56 area.
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