Stock in Focus: International Container Terminal (ICT)

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International Container Terminal Services (stock symbol: ICT) has been resilient since my last post, reaching higher highs and rejecting all attempts to bring the price down.

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Philippine Stock Exchange, International Container Terminal_ICT Daily chart, July 28, 2014

ICT Daily chart, July 28, 2014

The Relative Strength Index (RSI) is moving higher in line with recent price action.

I hinted on a temporary price decline around 108 back in late-March. But in actuality, what happened was ICT has gone into consolidation mode close to that mentioned price level.

The ideal support mentioned at that same post, 102-106, has held very well, hence my view remains bullish for this stock and the open target at 120-130 remains a possibility. In fact, depending on the momentum, 140-150 may not seem farfetched this year. I would prefer to see new highs in 2-4 weeks. Regardless, keep an eye on the support area (105 area is the line in the sand) and my update on this stock.

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

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