The market rebounded nicely today, gaining 2.01% closing at 4203.60. MACD is crossing back over the zero line and rate of change is still pointing up suggesting further advances in the short term. The index also closed above its 10SMA confirming the advance.
My positions in AP and AEV continued to perform very well in today's session, AP gaining another 5.33% today closing at 33.60. It opened higher today, forming a gap that is pointing to 36.60 as a target on the next advance. However, momentum is relatively at peak now while rate of change has started to decline suggesting an incoming correction in the short term. Look for possible entries near 31.90 to 32.80 levels.
AEV gained 4.44% closing at 40 today. Rate of change and momentum are both toppish suggesting a correction in the short term.
Personal target for AP is 35. Current price is shy by P1.40 from target.
Personal target for AEV is 45. Current price is shy by P5 from target.
AP is up by 24.13%% within twenty trading days with doubled up position.
AEV is up by 14.09% within nine trading days.
