Peñoles (Pe&oles*) Dalayed near tripe support in MXN$230

While the IPC (Index of Price and Quotes) presents an adjustment of 7.8% at end-May. While Peñoles (Pe&oles*) presents a decline of 13.6%.

The chart indicates a delay to the market (IPC) and a delay with the increase of gold. This is the company more linked to the gold.

Technically is posible a technical bounce:

a) MACD is crossing the moving average, then will be a sign of buy.

b) The Stochastic indicates oversold, but with trend to buy.

c) The relative strength index RSI is on the rise and has room to rise.

d) Is moving in a bear channel, that can be broken.

Technical support at MXN$ 235.00

Technical resistance at MXN$ 265.00

Observe:

a) Breaking if the bear channel.

b) Validate the MACD break upward of its moving average.

c) Yield from the current price (MXN$241.8) to its resistance (MXN$265) is 9.6%.

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