Stock in Focus: Victorias Milling Co. (VMC)

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Sellers of Victorias Milling Company (stock symbol: VMC) have been successful at controlling price and keeping it below 5.00 for over 2 months now, shortly after the fizzled uptrend in late-May.

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Philippine Stock Exchange, Victorias Milling Co._VMC Daily chart, August 27, 2014

VMC Daily chart, August 27, 2014

VMC has been bearish throughout August and there is possibility of further bearishness ahead. Support is at 4.00-4.30, then 3.00. Resistance area is near at 5.00 and then 5.50-6.00. Be careful of this stock.

The Stochastic indicator maintains its bearish bias and is closing in on the 30 level.

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