StockWatch (Jan 29 – Feb 2, 2007): URC, MWC, TEL, PCOR

URC (Chart: Daily Resistance: 19/19.50 Support: 18.50)

URC could either be a descending triangle or a symmetrical triangle. If it is a symmetrical triangle, it needs to takeout the 3 MA’s before breaking out. Recommendation: Buy near support. If price goes below support, sell

MWC ( Chart: Daily Resistance: 9.00/9.50 Support: 8.80/8.60)

MWC seems to be forming a falling wedge. At current, it is still too early to tell as price may still bounce at 8.80 and may distort the falling wedge formation. Recommendation: Wait and observe, check if support will hold. If support holds and is accompanied by volume of around 10M and above, buy.


TEL ( Chart: Daily Resistance: 2720 Support: 2600/2550)

TEL gapped down with little volume, which might be a good indicator that there are still a lot of traders holding on to the stock. At this point price may still move down or sideways, probably testing support at 2600. What is promising about TEL is that is has now broken its sideways movement and the trading last week has had the price moving above the resistance of 2610 with price going above 2800. This may be a start of an upward channel. Recommendation: The stock is a candidate for range trading. Buy near support and sell at 2800 and beyond. If it goes below 2550, sell.

PCOR ( Chart Daily Resistance: 4.20/4.35 Support: 4.10)

PCOR broke out of a small channel last Jan 17 and was accompanied by 20M volume. I personally thought that the breakout would somehow be able to sustain the momentum and break the resistance that formed since August. But to my dismay, the price went down and went back inside the channel. But analyzing the volume on the downward movement, there was far less volume on the downward move, which is good sign that a lot are still holding on to the stock. Add the increase in volume in the recent trading, which could indicate that there is accumulation going on at 4.10-4.20 level. A break above 4.20 is imminent this week if the volume still picks up. Recommendation: Buy at 4.10-4.20. Sell if price goes below 4.10.

In Retrospect : MBT, BPC, TBGI

MBT
MBT’s target price was reached at 60 and a lot may have started to cash in on the profit as price went down to 57. Next support at 56 which is the 50% retracement.

BPC
BPC did not reach the support at 2.50 as bulls came in at 6.65-6.70 and started pushing the price up to 2.95. Next resistance is at 3.00, but it looks like the bulls are still in control and may still push the price up to 3.10 and beyond. Recommendation: Hold. Sell when there is sign of large decrease in volume.

TBGI
Price went down to support at 2.34, but continued to move below 2.30 and went down to 2.28. Recommendation: Wait and observe, price may still move down to 2.15, which is the 130 day MA

StockWatch (Jan 22-26, 2007): MBT, BPC, TBGI

MBT(Chart: Daily Resistance: 60 Support: 56.50)

MBT was able to successfully break the ascending triangle on the first day of trading last week. Price target for MBT is P60. Expect profit taking at 59-60 level. Recommendation: Sell near 60.

BPC(Chart: Daily Resistance: 3.05 Support: 2.50)

BPC brokedown from either an upward channel or a rising wedge. MACD looks like it is going to cross below the signal line. As of current, support is at 2.50, but price may still continue to 2.40. Recommendation: Wait and observe, this stock possible for range trading. Buy at or near 2.50

TBGI (Chart: Daily Resistance: 3 Support: 2.34)

TBGI is a candidate for range trading. Based on the last 4 trading days last week, the volume greatly diminished which might indicate that the selling pressure has fizzled out. Recommendation: Buy near support and sell near the 3 level. If the price still continues to move downward, cutloss at 2.30

InRetrospect:MIC, MERB, GLO, MWC

MIC

Though the pennant formation was still intact on the first day of trading, the proper break out did not happen on the second day of trading as the volume was not sufficient. The price movement for the remaining days was still accompanied with volume, but there seems to be a standoff between the bulls and the bears as the opening and closing price were near or the same.

MERB

The ascending triangle was invalidated as the price broke the ascending triangle with insufficient volume. Price might move down to sidewards this week as the stock is already very much overbought and last Friday’s volume might be a sign that a lot of traders are starting to cash in on the profit.

GLO

The bulls were able to avert the gap down that happened previously. Price went sidewards, then gapped up. For this week, there is still room for price to move upwards, but it first has to surpass resistance at 1280

MWC

8.80 proved to be a strong support as price bounced off from this level. Currently 9.50 is the immediate resistance. Though price is now moving upward, we still need to see an increase in volume in order for the price to continue moving upward.

StockWatch (Jan 15-19, 2007): MIC, MERB, GLO, MWC

MIC (Chart: Daily Resistance: 2 Support: 1.85)

MIC is showing signs of Flag/Pennant formation. The pole was formed for 2 days and last Friday’s trading has started the pull back to form either a flag or pennant. This week, price may move side to downward. Recommendation: Wait for another day to see if formation is still intact. If formation is still valid, buy near support at 1.85.

MERB( Chart: Daily Resistance: 59.50 Support: 55)

MERB is forming an ascending triangle with resistance at 59.50. A possible upside of P8 can be realized if the ascending triangle is broken with volume. At this point it might still be too early for the price to break out of the triangle. Price may still consolidate within the triangle. Recommendation: We may see an upward movement this week and you might be buying near resistance if you buy early. Wait for price to pull back from the resistance level before buying (probably near 55-57 level)


GLO (Chart: Daily Resistance: 1210 Support: 1180/1160)

Price gapped down during the last two trading days and went as low as 1180. It is currently evident that bears rule movement of this stock. There is a possibility of a short upward or sideward movement. If bears still continue to push the price below 1180, next support is at 1160. Recommendation: Wait and observe, price may still go down to 1160 and below as MACD is opening downward and support level since June was broken.

MWC( Chart: Daily Resistance: 9 Support: 8.80/8.50)

MWC also broke the support line extending from June and is currently way below it. Recommendation: Wait and observe. MACD currently shows a negative outlook for this stock, but the RSI is near oversold level and note also that volume is diminishing which might be indication that sellers are getting thin. We may see either down or sideward movement. If support at 8.80 is broken, next support is at 8.50.

In Retrospect : MBT, KPP, ALI, FGEN

MBT
Went beyond resistance level but was unable to sustain the move above it. Last Friday’s trading day saw another effort by the bulls to push the price above resistance level. This coming week would be a wait and see if the bears still have some more strength to pull the price down. Price may move side to downward before pushing above resistance. Recommendation: Hold

KPP
The last 2 trading days was accompanied by very high volume and price went up to as high as 0.59, very much breaking the resistance. Next resistance would be 0.59-0.6. Recommendation: Hold.

ALI
Instead of providing a strong support at 15.75, it became a resistance as price went down and tried to go beyond 15.75. Though there were many sellers that sold down and cashed in at 15.25-15.75 levels , the buyers still had the upper hand as closing price was kept near opening price. Last Friday’s trading saw the resurgence of volume. Hopefully this will be the continuation of the upward move.
Recommendation: Hold

FGEN
The price did move down near support level. Price is now poised for an upward move. This is a good opportunity to capture a P3 move for the short term.Recommendation: Buy at 53-53.50 Sell at 56-56.50

StockWatch (Jan 8 – 12, 2007) MBT, KPP, ALI, FGEN

MBT (Chart: Daily Resistance: 53 Support: 49)

MBT is forming an ascending triangle with resistance at 53. If resistance is broken with volume, price can go up to 61. Recommendation: Buy near the support level, sell if it goes below support with volume.

KPP (Chart: Daily Resistance: 0.54 Support: 0.45)

KPP does not have any area pattern forming, but the unusual volume that accompanied last Friday’s trading and the MACD has brought a positive side to this stock. If the succeeding trading days will be accompanied by substantial volume of 6M and above, there will be a higher probability that this may try to reach the previous high of 0.68 Recommendation: Buy

ALI (Chart: Daily Resistance: 16/16.50/17 Support: 15.50)

Last Friday’s trading saw ALI’s volume sky rocket to 118M. This makes the 15.75-16 level a strong level of support. It also broke the ascending triangle that formed from October –December. Price may go as high as 17.50. But a couple of resistance will be encountered at 16.50 and 17 as these are previous highs. Recommendation: Buy.


FGEN (Chart: Daily Resistance: 56.50 Support: 54)

FGEN is forming an ascending triangle. A possibility of P5 move upwards. But at this point it is still to early. Price may still go near support level. Recommendation: Buy near support

In Retrospect : JFC, FLI, AT, APX/APXB

JFC
This stock broke the resistance at 42.50 and bounced off 44 level. The trading last Friday saw a couple of holders cashing in on the upside which brought the price down to 43, near resistance. The broken resistance was not accompanied by a valid volume to consider a valid break of the rectangle or sideways pattern. But this stock still has a lot of potential as it would still try to retest the 44 resistance (previous high since last Nov 2005) and hopefully break it. The MACD shows a positive outlook for this stock, but RSI shows a near overbought sign. The price may still fluctuate between 44-42.50. Recommendation: Hold if you already have this stock. If you plan to acquire this stock, try to get this near support of 42-43.

FLI
FLI reached a high of 2.16 before plummeting to a low of 1.64. The price went below the 65 day MA and currently bounced off the Nov-Dec support line. Price may now trade sideways between 1.6-1.8 with a strong support at 1.64. Recommendation: Range trading this stock is a possibility. Buy below 1.70 and sell above 1.80. But be aware that a strong resistance may form near 1.80-1.90 as a lot may still hold the stock or sell at this price level.

AT
AT did not pullback to 9.50 but instead flew higher to 10.50 with substantial volume but pulled back down to 9.30. It currently has established a resistance at 10. Price may move between 9-10 level. Recommendation. Avoid if it moves lower than 9.

APX/APXB
The expected bounce did not happen and the price went further down