PSE Ticker

Thursday, June 26, 2014

MCP ready to seal the gap?

MCP closed its price yesterday with 3.02% gain. As you can see on the daily chart below, it found a new support at 11.51 which is the 127% of the Fibo line. The next resistance will be at 12.02 which is the 100% of the Fibo line.

Take note in the chart below that there's a gap (box) that needs to be filled. Will it happen this week or next week? 

RSI or Relative Strength Index is valued at 34.57 which is still good and far form overbought. 

Caveat.




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