ABS-CBN Corporation (stock symbol: ABS) has gone to reach the target I’ve mentioned in my March 25 post, following TP’s script flawlessly, so to say. 😉
Now, the real fun starts as bulls must prove that they can sustain higher prices, following the unimpeded run-up they have enjoyed last April.
It is in the bull camp’s best interest to establish support around the 30-35 area, and ideally they could hold off all threats right at the 35 level. Resistance at 40 and then 45-47.
The TRIX Index is ready to venture completely below the zero level. Further bearishness would make this happen.
Do you have ABS in your portfolio? Share your thoughts below!