Banks all over the world were terribly affected by the current stock market crisis. Many went bankrupt, some still going and most were struggling. Despite that, many of the Philippine banks were able to hold on and maintain a strong and stable company and one of them is Banco De Oro (BDO). Looking at its chart, more than a year of downfall had occurred to its stock value. This year of March however was the turning point making a big turnaround by bottoming at 20 pesos per share. It’s currently above 30 pesos and still showing signs of rising as an ascending triangle chart pattern (indicatd by the red horizontal and diagonal line) is being formed as for my technical analysis. Once a break above 36.5 pesos and a sudden surge in volume occur, it may easily reach 42 pesos. Click image to enlarge!