On technicals Grupo mexico has been fairly responding to resistance and support levels. Personally I don't think we'll see it back at 37,but ob the other hand, there's a good chance we'll stick at current price (42-42.70) for most of July, with a slight pullback that will make the stock a bit more attractive. Either way and on a longer term, the Fibonacci retracements marks next resistance level at 45. RSI confirms a possible pullback before heading back up, and MACD shows a new upward trend well-above the signal. My price objective on a 12 month basis is 57 pesos.
No comments:
Post a Comment