Aboitiz Equities Ventures (AEV) – Breakout From Ascending Triangle

Technical analysis of AEV has just shown that price has broken out from the 36.50 ascending triangle resistance line, to close at 38.30 up by 7.9% during today’s stock market session. With its current bullish momentum, we can expect AEV to target the 40.50 ascending triangle price target within the next two weeks. MACD line is also poised to do a bullish cross over the signal line, further confirming the bullish strength of this move.

Now, the ideal entry point is around the breakout point at 36.50, so you could try to at least get the possible price if you wish to trade this price action. If you already have positions, you could take profits around the 40.00 level. And if the trade didn’t pan out as expected, set your stop loss at around 34.50.