Manila Water’s stock just broke out of the 16 month resistance with very strong volume last January 6. If the stock powers through up and breaks past the 33.23 range it can be headed even higher to 37.8.
All moving averages and the MACD is pointing to a bullish sentiment for the stock.
The current breakout is great news for those that have positioned earlier! Looking at the first breaktout last August 2014, the stock is now up 21.66%
What do you have to watch out for now?
If the stock fails to breakout of 33.23, it may drop back down to around 30.
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