The ‘Comeback’ of RFM Corporation?

inverted head and shoulders, ron acoba, jose concepcion, joey concepcion, RFM Corporation, inverted kilroy

Happy Easter everyone! I hope all of you have enjoyed this much-needed vacation. Anyway, let’s go back to regular programming with my technical analysis on RFM Corporation of the Philippine stock market.

Concepcion-led RFM Corporation has been under the radar for the last several years. To make the story short, the performance of its shares has been a major disappointment to its investors as it consistently underperformed the PSEi. Recently, however, has gained some fans as it rose from Php1.19/share to start the year to Php2.13/share last Wednesday! Now, one might ask given its recent run, “isn’t already too high to go long?”

Zooming out to its 10-year chart, I was surprised to see a huge inverted head and shoulders chart pattern that it had formed. With an apparent neckline resistance at around Php2.00, a successful move above this level could jockey it higher to just below Php4.00. But first, it has to clear it’s high at Php2.20. Now, given its ‘breakout’ from a pennant pattern over the 6-month time frame, a valid breakout from the bigger inverted kilroy or head and shoulders could be in the works. On the downside, a failure to move past the Php2.20 high could send it back down perhaps to Php1.80.

Let’s see how this will go over the next couple of days or weeks.



  1. Patricia says

    PSE Academy is the official market education website of the Philippine Stock Exchange, Inc.(PSE) created in partnership with the PSE Foundation, Inc. This website is designed to provide a comprehensive investor web-based education for market participants, would-be equity investors, and the public in general.


  2. Tin Perez says

    PSE Academy ( provides a comprehensive, interactive, and practical web-based investor education for market participants, would-be equity investors, and the public in general.

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