Stock: CEB
Company: Cebu Air Inc.
Support: 50.00
Resistance: 53.80


After Cebu Air, Inc.’s (CEB) share price rebounded last Nov 2020, the stock is now looking to retest its key resistance level of P53.80. Once CEB breaks above P53.80, we expect the stock to retest its pre-pandemic price levels around the P60 area.

It is noteworthy that CEB is one of the few stocks that has not yet traded above its June 2020 high. This gives traders an opportunity to buy a stock which has not yet significantly rallied compared to other names in the local bourse.

Recommendation

We recommend buying CEB once the stock breaks above P53.80. Set cut loss below P50.00 and begin taking profits from P63.00 to P66.00

Related article

Technical Input: CEB | November 19, 2020

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