Stock Pick: FDC

Figure 1: Symmetrical Triangle of FDC

FDC is forming presently a what looks like a symmetrical triangle with short term target of about P5.00. But if FDC will be heavily benefited by the outcome of the IPO for East-West Bank then there will be a possibility that it will overshoot our target a formed a possible harmonic AB=CD pattern with TP of around P5.50 to P6.30. See chart below.

Figure 2: Possible AB=CD pattern

Figure 3: Long Term Chart of FDC

Lastly looking at the long term chart of FDC, I am seeing a possible cup and handle is forming. FDC simply needs to break the rim of the cup (RED diagonal line) and the pattern will be confirmed valid.