Stock in Focus: DMCI Holdings (DMC)

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The holders of DMCI Holdings (stock symbol: DMC) continue to enjoy full control as this stock enters fresh territories.

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Philippine Stock Exchange, DMCI Holdings_DMC Daily chart, May 21, 2014

DMC Daily chart, May 21, 2014

I warned about false breaks back in February, and we did see a couple of those in the subsequent months.

I also encouraged interested buyers back then to wait for lower prices. Sadly, DMC was strong enough that it only managed to reach the 67s during its multi-week dips.

The TRIX Index has followed price as it moved to higher ground.

Now, the sky is the limit, hence we have an initial open target of 90-100. Keep an eye on the line in the sand at the 70 level.

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