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.
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.
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