PHP Stocks Investment Portfolio Update [19-Dec-2017]

Why Accumulating BRN? 

As I have said earlier, I’m a believer for the potential growth of this issue. I’m expecting a sideways price range of 0.92 ~ 1.10 until the publication of FY2017 audited financial statement. My bid for a price range of 0.97 to 1.00 yesterday and today merely 180K and 80K were confirmed. Seems like the ask side dried up already at these price ranges.

My latest technical views

Based on my chart below, EMA and MA are in a parallel sideways trend while parabolic stop and reverse (SAR) at 1.10 starts to descent and the RSI is in downtrend territory which means that the momentum short lived. 

My experience in the past of such pattern, it usually retest the latest current support level at 0.92.  If support level is broken, then the next support will be at 0.59 otherwise the next resistance targeted at 1.35. Again, I’m a long-term strategist the very reason why it is a buy opportunity for me at these price ranges.   

DISCLAIMER: I am not a Financial Advisor. Expressed in this blog is my personal opinion only and should not be construed as a recommendation, an offer, or solicitation for the subscription, purchase, or sale of this security.  

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