IDC breakout continuation

Italpinas Development Corporation

IDC is on a breakout continuation from the recent Downward Price Channel breakout. Initial target at 4.18 was already hit.

*Next target on sustained breakout will be around 4.40 ~ 4.70 area.
*Immediate support is around 3.77, near its recent 61.8% retrecement.

See previous analysis for reference on trading plan:
https://psetrends.blogspot.com/2017/03/idc-on-potential-breakout.html

IDC on a potential breakout

Italpinas Development Corporation

IDC is on a potential breakout from a bullish Downward Price Channel.

*Initial projected target from this breakout is around 4.18.
*Next target on sustained breakout will be around 4.40 ~ 4.70 area.
*Immediate support area around the 78.6% retracement.

Trading Plan
- Buy near the breakout area.
- Set stop-loss on breakdown from the price channel's support line.