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Tuesday, June 20, 2006

StockWatch June 20-23,2006 PERC


PERC(Chart: daily ** Resistance: 17 ** Support : 14)

PERC looks like it is forming a symmetrical triangle but it is not yet ripe for the breakout. This stock may still go down to the support level. Another pattern that might happen for this stock is for it to just form an upward channel without having a proper breakout of the symmetrical triangle. But either way, we may be looking at an upward trend.

BPI (Chart: daily ** Resistance: 48 ** Support: 45)

BPI has the potential to move up this week as we see its RSI dip to the oversold level. The 3 MA’s are a couple of obstacles though. You can buy at 46 level and sell at 50, that would still be a good profit. Caution should be observed as it is currently on a downward trend, my estimated bottom might not be a bottom at all. Im hoping that this downward movement is just a short pause of its upward movement.

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