Stock in Focus: Concepcion Industrial Corp. (CIC)

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Concepcion Industrial Corporation (stock symbol: CIC) has enjoyed a relatively steady price advance since February. Has it just topped out ahead of 57?

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Philippine Stock Exchange, Concepcion Industrial Corporation_CIC Daily chart, August 4, 2014

CIC Daily chart, August 4, 2014

Price has not indicated a halt in price advance. But will sellers let this continue without a good fight? If bears will make a combined attack soon, there is possibility of a swift move back toward 40, or even to the 30s. It would be in the interest of bulls for CIC to hold and create support around 40-45 in the following weeks or months. If they can keep a support at 50, much better.

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