PSE Ticker

Monday, June 2, 2014

EMP closed above the 38.2% Fibonacci line

EMP closed today with a 2.26% gain from the previous closing price. The price closed above the 38.2% Fibonacci line which is a good sign because this line may act as a new support. If you observe on the daily chart below, you will see that there's a threat from the Kijun-sen line and 50% Fibonacci line because this is the last time that EMP went down after hitting these levels. You may want to unload some of your shares or take profits on these area depending on the momentum.

RSI or Relative Strength Index is 50.55 which is still far from overbought.




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