Stock in Focus: First Gen Corp. (FGEN)

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Have you seen my post last March 16 for First Gen Corporation (stock symbol: FGEN)? This stock has now breached the initial target area at 18-20 and is now on its way to the next previously-mentioned target around 24-28.

Philippine Stock Exchange, First Gen Corp_FGEN Daily chart, June 24, 2014

FGEN Daily chart, June 24, 2014

Given the recent price action, I would now consider 24-25 as initial resistance area, with 28-30 as the next one up ahead. The latter is the all-time high area.

The Detrended Price Oscillator (DPO) has remained comfortably above the zero line throughout June.

In case price will decline from this point on, FGEN would ideally find support around the 20 level. An incomplete ascending trendline is traversing through and right above this level.

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

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