StockWatch (Oct 30-Nov 3, 2006) MERB, PCOR, PLTL, PX

MERB (Chart: Daily Resistance: 33 Support: 30 )

The stock is forming an ascending triangle with resistance at 33 and a possible upside of P5. But currently it is also trading within an upward channel. At this point, the ascending triangle is still in its early formation and the volume is not yet confirming the formation. If the ascending triangle is invalidated, we may just see a continuation of the upward channel with resistance at 34.


PCOR (Chart: Daily Resistance: 4.20 Support: 4.10)

PCOR has already broken out of the symmetrical triangle, the breakout volume was sufficient enough but not convincing, and the 260-day MA is currently blocking the price from going up. PCOR needs a little more push. Hopefully more volume would kick in the following days and that the support would hold.




PLTL

Previously I was expecting this stock to go down anytime, but it looks like traders are bullish with this stock and kept on buying it up to 5.30. As of current, MACD has turned from bad to good. Maybe we could expect more from this stock, but we don’t know up until when this upward trend will last. Better keep an eye on the MACD.



PX( Chart: Daily Resistance: 3.95/4.0 Support: 3.70/3.40)

The small ascending triangle previously noted is still intact. Hopefully the support holds