Stock in Focus: Aboitiz Power (AP)

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Aboitiz Power Corporation (stock symbol: AP) continued to obey the command of the general (dispatched last February). 😀

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Philippine Stock Exchange, Aboitiz Power_AP Daily chart, April 10, 2014

AP Daily chart, April 10, 2014

Ok, kidding aside… AP’s stock is now trading below the 40 level after reaching new heights. A minuscule gap around 40 could easily be taken out on the first or second instance that buyers step in. Otherwise, the threat of breaking the ascending trendline increases.

The TRIX Index is close to a complete cross below the zero line. This would not happen if buyers would step in soon.

AP’s support should thicken up around 34-37. Near-term resistance at 42-43.

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