LC has a stronghold for the best performing stock of the year with a year-to-date return of more than 97% so far. And based on its chart, it seems like it’s going to pocket some more gains. As you can see, LC has been consolidating within an ascending triangle. During this phase, a lot of buying occurred as evidenced by the increase in volume. At the moment, LC is experiencing some resistance at PHP 0.90. A successful breach, however, of this level, accompanied by a surge in volume would more likely send it PHP 1.00. In my opinion, a breakout is bound to happen soon so keep your eyes on this baby.
Lepanto Consolidated Mining (LC) Likely To Hit PHP 1.00June 2, 2011
June 2nd, 2011
by Ron Acoba