Showing posts with label PX. Show all posts
Showing posts with label PX. Show all posts

Saturday, July 28, 2007

PX on my Mind

Many issues in the local market broke down last Friday. It's a good thing that PX isn't one of them, at least not yet.

We see that it's consolidating inside a symmetrical triangle. Should this try and breakout this week, the resistance is set at 6.00 pesos. A trigger buy would be a 6.10, with an upside target of 7.20.

However, we need to observe how the market performs as a whole. It may have a hard time breaking out for the near term.