CHP has potentially bottomed out already at 9.05. A rebound from this level followed by a retest of this area will likely form a bullish Double Bottom pattern and will potentially be another buy opportunity if it also gives a bullish divergence pattern on some oscillators/indicators.
*IPO price of CHP was at P10.75 per share, a possible resistance area.
Trading Plan
- Test buy near the recent bottom or wait for another pullback near the recent bottom.
- Set stop-loss just below 9.05 (or below 9).
- Potential TP is near the resistance area around 10.75.
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