Philex Mining (PSE: PX)

Daily chart
RSI reads above 80, this suggest level is overbought. Parabolic curve in the making. Clients were happy with 10.75 thus the profit taking. There were crosses done at 10.50 and 10.75 as well. Problem with huge crosses is that it usually being used as the peak of the stock. Pls see MER crosses example (Title of post is “300″). Im playing it safe for them, 10.75 is a blessing. caveat.

Philiex Mining (PSE: PX)

Target 8.40 taken. Upgrading targets at 60% = 9.60 and 80% = 10.75. Caveat.