For some reason, Holcim Philippines (stock symbol: HLCM) continued to attract sellers around 15.50 even after my first post back in early-January.
The bearish warning in that January post is now in play as price had drifted back to the 13.00s where price’s been staying for several weeks. HLCM is now at risk of making a move to or beyond 10.00-12.00. Bulls must prevent a breakdown of 13.00.
The Commodity Channel Index (CCI) is ready to burst through the -100 level if price will break down in the coming weeks.
TP’s Advice: Avoid this stock. Bearish risk back at play.
Do you have HLCM in your portfolio? Share your thoughts below!