Stock in Focus: Jollibee Foods Corp. (JFC)

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Fastfood giant Jollibee Foods Corp. (stock symbol: JFC) climbed to new highs this week, finally erasing the resistance at 180 which has contained this stock for several weeks.

Philippine Stock Exchange, Jollibee Foods  Corp_JFC Daily chart, May 23, 2014

JFC Daily chart, May 23, 2014

The market was in favor of the script I laid out in my March 9 post. A new all-time high of 192 was reached last Tuesday, following four consecutive daily gains.

Open target for JFC is 200-250 throughout 2014. 170 is the near-term line in the sand.

The Stochastic indicator could do a reverse-cross at the 80s if JFC will ease in the coming days and weeks.

Do you have JFC in your portfolio? Share your thoughts below!

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