Fastfood giant Jollibee Foods Corp. (stock symbol: JFC) bottomed out below 151 shortly after my last post, and price has made good strides since then.
JFC holders can rest easy for now as 150 held on despite multiple bearish attacks last month, but it does not mean that they can remain complacent. Price is now trading in the 166s but bears may still take aim at a break of 150.
The Detrended Price Oscillator (DPO) has stayed above the zero level and could stay as such as long as price will not fall below 160.
The ideal scenario is an intact ascending channel and price piercing and staying above the 170 level in the coming weeks.
Do you have JFC in your portfolio? Share your thoughts below!