It's so nice to see the “lolo stock” fly! A day after the bullish chart pattern of Manila Mining Corporation (MA) was spotted and posted here in LaidTrades (kindly see the post here), it fortunately broke out, cleared out the PHP0.050 and PHP0.053 resistances and continued to march higher. Just what could be expected given its technical setup last week. I mentioned that PHP0.060 is the target price based on the symmetrical triangle‘s size and since today's close was PHP0.061, it has already been achieved. For those who got in at the breakout point, that's around 20% profit in 6 days, not bad at all. The next question is, when do you take profits? As for my trading sentiments on MA stocks, buying pressure could continue tomorrow. Regardless, I'd take profits on the first day of a clear bearish candle reversal if I'm trading it based on the triangle breakout. If I'm looking at the bigger picture and got shares at the lower levels, I can opt to let my profits run and cut below the 5-month uptrend.
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