Stock: MWC
Company: Manila Water Company
Support: 16.50 / 15.30
Resistance: 19.00


Breakout from its recent high of 16.50 as it traded within uptrend channel.

Momentum looks sustainable holding its RSI50 level (backed by bullish MACD crossover).

If strong price action would manifest, next resistance level is seen at 19.00, the price level before it crashed.

Recommendation

Set stop loss level if falls below support of 0.68 / 0.63.

Target Price: 0.86 (gap).

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