In Retrospect: BPI, FPH

BPI

BPI has now broken out of a downward channel. Last Friday’s close was at 60.50 with around 2.9M shares traded. Based on the breakout of the channel, we may see the stock reach up to 67. However, there are a couple of resistances along its way up at 63 to 65 levels, which are previous highs. Also another word of caution, as for the past 3 days, the stock has been climbing with long bodied white candles; the stock may reach exhaustion levels if it continues to move up with just average volume. Do not forget the upcoming ex-div date at Jan 31, as there might be dumping of this stock once ex-div date is reached.


FPH

The bullish divergence is still intact for FPH as well as the ranging action which the stock has been doing for the past weeks. Watch out for upcoming resistance at 60 and 65 which are previous highs. If the stock is able to move above 60, start selling at 65.