San Miguel Pure Foods Company (stock symbol: PF) made headlines recently as it gapped up to new multi-month highs. Pure Foods reached as high as 275, a price last seen in June 11, 2013.
The MACD Oscillator (MACD-O) jumped to much higher levels due to the gap, and this is expected to normalize in the near future as Pure Foods returns to a less volatile state.
Let’s see if Pure Foods will attempt to fill the relatively wide gap it created this week.
The initial resistance for PF lies at the 300 psychological level. Weakness, on the other hand, would bring PF’s stock back into the range between 210 and 250.