Stock in Focus: PhilWeb Corp. (WEB)

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Trading activity in PhilWeb Corporation (stock symbol: WEB) has not changed much since my late-April post.

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Philippine Stock Exchange, PhilWeb Corporation_WEB Daily chart, July 11, 2014

WEB Daily chart, July 11, 2014

The Commodity Channel Index (CCI) has stayed below the -100 level, however it is currently showing a bullish divergence (green lines).

Some may argue that we’ve seen some activity back in mid-May. However, that is not enough, and as you can see, PhilWeb moved back toward 5.00 again — and subsequently hit a marginal new low of 4.89 on May 30.

If you like this stock, you can enter close to the current price. But, bear in mind that this stock still has a lot of potential to decline (or further consolidate). It would be better to wait for more bullish activity before entering. Near-term resistance are at 6.00 and 8-10.

TP’s Advice: Better to be safe (and liquid) than sorry: avoid this stock.

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

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