Stock in Focus: Ever-Gotesco Resources (EVER)

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The stock of property firm Ever-Gotesco Resources and Holdings (stock symbol: EVER) could be on the cusp of change this 2014.

Looking at the long-term chart, EVER has made higher lows since November 2010, and this could possibly lead to a near-term break to the upside. If a break north would transpire, this would be a huge development as this stock has been mired in consolidation since 1998. If EVER stockholders could conquer the consolidation high at 0.50, price would achieve a higher high, and consequently open up doors to the next upside targets at 0.80 and 1.00-1.20.

First things first: bulls must establish a strong support at 0.20. If they can prevent bears from pushing price close to that level, much better.

The Stochastic indicator has crossed over recently and is open to a move higher.

Philippine Stock Exchange, Ever-Gotesco_EVER Daily chart, April 3, 2014

EVER Daily chart, April 3, 2014

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