A Rally Seen In Lopez Holdings Corporation (LPZ)?

Ron Acoba
updated | Author's Website

lopez holdings corporation, LPZ philippine stocks, oscar lopez, ron acoba, daily stock picks, stock market trading
Lopez Holdings Corporation or LPZ in the Philippine Stock Exchange went on to reach a high of PHP 6.95 after breaking out from an inverted head and shoulders continuation pattern. Since then, it cooled off back towards PHP 6.00. Given its present set-up, though, LPZ could stage a rally in the days to come.

As you can see from its chart above, LPZ is making a “return move” back to the neckline of the inverted head and shoulders pattern at around PHP 6.00. Now, this level could keep LPZ from falling and even push it higher again. The presence of a hidden bullish divergence, where the price registers lower highs and the RSI makes lower lows, further reinforces the possibility of it rallying soon. Therefore, if the PHP 6.00 support holds then it could rally back towards at least PHP 6.50 again.

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