MER potential breakout from Head-and-Shoulder Bottom pattern

Manila Electric Company

MER is on a potential breakout from a Head-and-Shoulder Bottom pattern (bullish pattern). Measured target is around 320.

*A successful breakout will also potentially fill the gap at 314.60 ~ 324.40 range.
*Immediate resistance is around 300, the previous major support prior to breakdown.

Trading Plan
- Buy the breakout (but expect for potential fallback).
- TP=320
- Set a stop-loss to at least 1:2 risk/reward ratio but ideally around 1:3.


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