Stock: GLO
Company: Globe Telecom Inc.
Support: 2050
Resistance: 2130 / 2150 / 2200


The stock surprised on the upside yesterday, breaking out of a 2-month consolidation range to close at a 4-month high.

Indicators have just started to turn bullish, while RSI is still relatively far from the overbought region. Do note, however, that momentum is starting to weaken.

All signs points to a possible pullback, but consolidation at a higher range is likely.

GLO surpassed all major MAs in one day, so expect it to settle somewhat for the remainder of the week. A new support could possibly form at 2,050.00.

Recommendation

Take profits

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