As most of the consumption related stocks are on a rampage, PGOLD remains to be amazing as it steadily forms its uptrend as it pushes its way up. If you take a look at the chart below you would see PGOLD retrace and drop just at it trys to hit a resistance around 43 Pesos. However inspite of it dropping buyers continue to pick it up preventing the stock from falling!
What’s next for the stock?
For PGOLD to move higher it must break the resistance at 43.15. If it successfully breaks it with volume, the next stop for the stock maybe at 45 and 48 respectively.
What if it fails to break the resistance?
The stock may swing sideways and go nowhere from 43 to 41. For the stock to have a chance to go higher it must maintain and stay in course with the upward trending line.
PGOLD would be interesting to watch and monitor to see where it goes over the short term. I hope this gives you confidence in your trades!
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