Petron Corporation (stock symbol: PCOR) has yet to recover from the downside gap it encountered last August. The stock even reached its lowest price since February 2013 before achieving a short-term rally back up.
The MACD Oscillator (MACD-O) has glided back above the zero level but price has yet to make a convincing comeback.
Short-term resistance is right at 13. I’ve set the near-term lines in the sand at 10 pesos and 15 pesos. Those who like this stock should keep these borders in mind.
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