Stock in Focus: Lafarge Republic (LRI)

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The answer to the previous question was, apparently, yes! :)

Lafarge Republic (stock symbol: LRI) declined 1.55 percent this week after failing to cement a foothold above 10.50 on Monday and Tuesday.

If Lafarge can maintain its price above 10.00 from now and throughout May, we could see LRI finally ascend towards the 2013 double (or triple top) 12.00 highs last seen nearly 8 months ago.

More tougher resistance resides around 12.00. 10.00 and 11.00 are near-term lines in the sand. Bulls hold a serious task of keeping the lid at 8.00-9.00 completely shut.

The Relative Strength Index is now trading close to the 50 level as price attempts a  move through 10.00.

Philippine Stock Exchange, Lafarge Republic_LRI Daily chart, April 25, 2014

LRI Daily chart, April 25, 2014

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