Stock in Focus: Roxas Holdings Inc. (ROX)

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Roxas Holdings Incorporated (stock symbol: ROX) has been mired in consolidation for over two months now.

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Philippine Stock Exchange, Roxas Holdings_ROX Daily chart, September 10, 2014

ROX Daily chart, September 10, 2014

Currently, Roxas Holdings or ROX is trading in a narrow alley below 7.00 —
right in the middle of the broader 5.00-8.00 range. My near-term line in the sand for this stock is 7.00. Bulls want a break of 8.00, while bears are salivating for a break of 5.00.

The Commodity Channel Index (CCI) has stepped in briefly into the -100 level, but is now moving in the -60s.

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