Bloomberry Resort Corporation (BLOOM)
Technical Notes:
- Potential breakout from falling wedge pattern with above average volume. Projected target price is around the recent high near 11.
- MACD is also indicating a possible bullish signal crossover pattern. A potential buy signal.
- Immediate resistance is at 10.3 and next at 10.5.
- Immediate support at 9.45.
Fundamental Notes:
- Potential catalyst for an upside price action is the targeted grand opening of its casino complex in the first quarter of 2013 inside Pagcor's Entertainment City.
Price Forecast (~12months):
- Low estimate = 10.5
- Median target = 11.5
- High estimate = 12.5
caveat
Traders Pie: BLOOM Update #1
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