Stock Watch (Feb 18, 2006)

DISCLAIMER: I am not liable for your sleepless nights should my analysis prove to be wrong and prices heads south =p

Its been a long time since I last posted a stock watch. A lot of movement occurred during the time I was away. So here's an update on the stocks.



JFC
This stock was very bullish the lst time we left off. It was trading in an upward channel on our last analysis, but now it has already gone far way off from the upward channel we last saw. From the looks of the chart, it seems the prices has now formed a descending triangleand broke down from that pattern at the price level of 38. Downward price target is at 31-32 level and has nearly been reached recently with the lowest price level at around 33. The 260 day MA is providing support and currently the price is now heading upwards again. But me thinks that the upward movement may hit a snag due to the 65 and 130 day MA plus the 38 level of resistance from which it broke down from. Support is at 33-34 level, immediate resistance at 37-38 level. Prices may consolidate for a while in between the 3 MA's




GLO
Lat time we left off of this stock, it was trying to run away from the 130 day MA. But with its price history, it has never really gone far beyond the 130 day MA. Previously after breaking the 130 day MA, this stock went tumbling down again way down below the 65 day MA. In its recent try to break the 130 day MA, it was again unsuccessful and price went down again. But this time there was something new, the price found a strong support level at the 65 day MA. With its try in breaking the 130 day MA a symmetrical traingle was formed and eventually the strong support at 65 day MA provided the launching pad for for a break out. The price broke out and has now nearly reached its target price. The recent break out had a very good price expansion. Expect a pull down of price to 780-800 price level and if the 260 day MA support level holds we may see the price to head higher