PXP – PHILEX PETROLEUM CORPORATION
Was bearish this morning but bulls was trying to catch up during the afternoon session. It went down to as low as 43.80 but was able to bring the price to a green territory 47.5
For me, the last few minutes of the market is a bit bearish that is why it close at 46.5 The bulls wasn’t able to sustain its ground.
Technically PXP is still bullish if we look at it in a bigger picture. The correction today is acceptable given the rise of 19.79% since last June 18.
I think the best entry price for those who want to add position or fresh entry will be between 42-43
Patience is a virtue but lock profit when you can.