Philippine Long Distance Telephone
Philippine Long Distance Telephone (PHI) is another stock that's forming an if/then trade right now. PHI has had a massive run since its October lows, climbing close to 30% as buyers started flooding back into the market. The consolidation range that shares have been stuck in for the last couple of months makes a lot of sense; right now, market participants are trying to decide on their next move in this stock.
The important levels to watch in PHI right now are resistance at $66 and support at $60. If shares of PHI break out above that $66 resistance level, then this stock becomes a buy. Otherwise, if shares break down below $60, then it's a short candidate.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV