The bearish play for Holcim Philippines (stock symbol: HLCM) have indeed materialized soon after I shared my last post.
However, it did not last very long as buyers intervened around the 12.80 lows and this brought HLCM’s price back into the 14s.
The Moving Average Convergence Divergence (MACD) histogram and signal lines are threatening to cross lower as price hesitates to move through 15. There is also a gap right around 13.50.
With HLCM currently on a tight leash below the 15 level, buyers should attempt for a break of the 15-16 area in the next few weeks or months.
Do you have HLCM in your portfolio? Share your thoughts below!