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.
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.
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