{"id":17172,"date":"2010-12-22T00:52:56","date_gmt":"2010-12-22T05:52:56","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=17172"},"modified":"2010-12-22T00:52:56","modified_gmt":"2010-12-22T05:52:56","slug":"phoenix-petroleum-to-follow-petrons-footsteps","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/12\/22\/phoenix-petroleum-to-follow-petrons-footsteps\/","title":{"rendered":"Phoenix Petroleum to Follow Petron\u2019s Footsteps?"},"content":{"rendered":"<p><a rel=\"lightbox\" href=\"http:\/\/static.seekingalpha.com\/uploads\/2010\/12\/21\/650046-129299392186316-lytman02_origin.png\"><img decoding=\"async\" src=\"http:\/\/static.seekingalpha.com\/uploads\/2010\/12\/21\/650046-129299392186316-lytman02.png\" alt=\"\" hspace=\"6\" vspace=\"6\" \/><\/a><\/p>\n<p>The  last two months has been very good for the oil stocks of the   Philippine Stock Exchange, particularly Phoenix Petroleum and Petron   Corporation. Petron has exploded from a low of about 6.80 in November   2010 to a high of 17.40 in today&rsquo;s trading, forming a pennant pattern on   its way. Anyway, that&rsquo;s a gain of more than 250% in less than two   months! Wow. Similarly, Phoenix has risen from 7.00 to a high of 13.80   during the same time frame. After reaching the said high, PNX, however,   has consolidated into pennant or a symmetrical triangle pattern. The   question now is, will PNX break out the same way that PCOR did?<\/p>\n<p>From  a technical point of view, that&rsquo;s very likely since trading  action is  already taking up about three-quarters of the pattern. So if  PNX breaks  the resistance of the pennant or the triangle, it could jet  all the  way up to 17.00-18.00 (gauged by projecting the height of the  pennant&rsquo;s  pole from point of possible breakout). <\/p>\n<p>More on <a rel=\"nofollow\" href=\"http:\/\/www.laidtrades.com\/\" target=\"_blank\">LaidTrades.com<\/a> &#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The last two months has been very good for the oil stocks of the Philippine Stock Exchange, particularly Phoenix Petroleum and Petron Corporation. Petron has exploded from a low of about 6.80 in November 2010 to a high of 17.40 in today&rsquo;s trading, forming a pennant pattern on its way. Anyway, that&rsquo;s a gain of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/12\/22\/phoenix-petroleum-to-follow-petrons-footsteps\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Phoenix Petroleum to Follow Petron\u2019s Footsteps?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-17172","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=17172"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17172\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=17172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=17172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=17172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}