Philex Mining Corporation

PX has been consolidating for the loooooongest time. And because of that, I like it more! In the medium term perspective, it's trying to break its downtrend. In the short-term, it is moving sideways with support at 13.8 and resistance at 14.20. There is actually, a lower support level at 12.90 but see how fast PX bounced from this low? That indicates PX can no longer fall any further. So now, I am waiting for a convincing break above 14.20. But still be mindful of resistance at 15 pesos. The inability to break 15 would make it look like PX is merely moving within a 2 peso range from 12.90 to 15. It is only upon breaking the 15 level that PX has a chance of retesting 17.