Stock in Focus: DoubleDragon Properties (DD)

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DoubleDragon Properties Corp. (stock symbol: DD) has largely fizzled out after making a extraordinary surge toward 11.00 in the latter part of May.

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Philippine Stock Exchange, DoubleDragon properties_DD Daily chart, July 18, 2014

DD Daily chart, July 18, 2014

Since June, DoubleDragon has been developing a support just above 7.00. The question is, will this hold up against future threats? Bulls need this area to hold to prevent further price deterioration toward 4.00-5.00. The better scenario for them is to see a consolidation with plenty of moves that close in on the resistance around 10.00-11.00.

The Commodity Channel Index (CCI) has remained close to the -100 level for quite some time.

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