Stock: PHA
Company: Premiere Horizon Alliance Corp.
Support: 0.77 / 0.68
Resistance: 0.82 / 0.87


PHA neared its YTD high of 0.87 anew after notching a strong one-day uptick of +12.00%. This is also a slight breakout from its nearly three-week-long resistance of 0.82.

This has reignited the indicators’ buying pressure especially since the stock has been on a narrow range of 0.72 to 0.80 for the past five trading days. The RSI climbed back up the overbought region; the gap between the +DI and -DI widened anew. The MACD, on the other hand, is in neutral territories with similarly tapered histograms.

Due to the strong one-day gain in prices, some profit-taking may ensue as investors secure their gains. Nevertheless, PHA’s pullback will likely be limited by its relatively stable support of 0.77.

Meanwhile, the stock has been trading above its key short- and long-term moving averages since end-Oct.

Recommendation

Take profits.

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