Good morning everyone! Phoenix Petroleum or PNX in the Philippine Stock Exchange busted into the scene in yesterday’s trading with a 7.94% gain when it rose from PHP 12.28 to close at PHP 13.32. [Read more...]
The Rebirth of Phoenix Petroleum (PNX)
Phoenix Petroleum to Follow Petron’s Footsteps?
The last two months has been very good for the oil stocks of the Philippine Stock Exchange, particularly Phoenix Petroleum and Petron Corporation. Petron has exploded from a low of about 6.80 in November 2010 to a high of 17.40 in today’s trading, forming a pennant pattern on its way. Anyway, that’s a gain of more than 250% in less than two months! Wow. Similarly, Phoenix has risen from 7.00 to a high of 13.80 during the same time frame. After reaching the said high, PNX, however, has consolidated into pennant or a symmetrical triangle pattern. The question now is, will PNX break out the same way that PCOR did? [Read more...]
PHILIPPINE STOCKS: PNX (PHOENIX PETROLEUM PHILIPPINES INC.) 12-26-2009
Phoenix Petroleum (PNX) has broken out of the major resistance line (green dotted line), indicated by the red circle, as seen in its stock chart. A sudden increase in its stock value will be highly anticipated. Merry Christmas!
