RFM Corporation

Last Thursday, RFM broke above its pennant's resistance at 1.93. Intraday, it hesitated below 1.96, as it has done so for several times in the past. Next week though, I expect a break above 1.96 and even 2 pesos. Since the resistances are so close together, I suggest you buy as close to 1.88 as possible. I will remain bullish as long as prices hold above that level. Pennant breakout suggests a target of 2.13, while its upward channel suggests a target of 2.30. 

I plotted  the Bollinger bands on RFM with a time period of 10 days. Notice how the BBs are now contracted, which indicates that volatility has decreased but the likelihood of it increasing volatility in the short-term has increased. In short, RFM will start to trend soon soon. The fact that prices are above the 10-day moving average is bullish. 

Caveat!