PHILIPPINE STOCKS: EEI (EEI CORPORATION) 5-5-2009

More than two weeks have passed since my last post on EEI of the Philippine stock market. Now I’m getting back to it since it has successfully broken out from its inverted head and shoulders chart pattern (3 arcs: The head is the biggest red arc and the shoulders are the arcs beside it) as the stock price passed above its neckline (red horizontal line) last April 20. Are the people who were able to ride its rise profit-take as early as now or will they wait until this stock reaches my minimum target price of 1.7. Click image to enlarge!

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