Stock in Focus: Belle Corporation (BEL)

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The stock of property firm Belle Corporation (stock symbol: BEL) broke the downsloping trendline seen in my previous post and never looked back. The 5.77 high posted on March 13 has so far capped any bullish attempts, and this puts pressure on the ascending trendline right above 5.40.

Philippine Stock Exchange, Belle Corporation_BEL Daily chart, March 28, 2014

BEL Daily chart, March 28, 2014

 Bulls must come together and prevent a break through the 5.00-5.40 area, so that BEL could have a better chance of advancing in the coming months.

The TRIX Index could roll over and challenge the zero level, at a time when BEL’s price would threaten a break of the ascending trendline.

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

 

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