As of July 23, 2014 at 12:00PM GMT+8, UNIVERSAL ROBINA CORPORATION (URC) inched itself up to PHP 167.80 per share, which is PHP 9.80 or 6.20% higher than yesterday’s closing.
RSI: 75.38 – expensive
P/E: 30.90 – expensive
Volume: We’re 5.30% away from breaking even with yesterday’s volume as of market recess.
Current Share Price: PHP 167.80
Support: PHP 155.00
Resistance: PHP 170.00
URC’s acquisition of New Zealand’s Griffin’s Foods might have helped in the escalate the buying sentiment of local and foreign investors. However, URC is already an expensive stock at this moment.
Action Plans You May Consider
Although the MACD has already given us a buy signal, you may want to HOLD your position. Take note that URC has already set a new 52-week high with is current share price and we have no clear visibility of the ceiling price.
If you want to enter a new position in URC, HOLD it for now.
If you currently hold a position and if you have earned already, it’s either you SELL now or HOLD your current shares and wait for strong bullish movements before you buy new shares.
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