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.
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