StockWatch (May 28-June 1, 2007) : LND, URC

LND( Chart: Daily Resistance: 0.92/0.96/1.12 Support: 0.84/0.80)

LND was previously noted to have exhibited signs of a head and shoulder formation, but as of current it seems that this formation has failed and it has turned into a symmetrical triangle formation which broke out last Friday. Target price is at 1.34. Recommendation: Buy.

URC (Chart: Daily Resistance: 16/16.75/17.25/17.75 Support: 15.50)

URC is currently showing possible signs of reversal. MACD and RSI seem to be forming a higher low, while the price formed a lower low, with MACD doing an upward crossover. As of current, the stock is still in a downward trend until further confirmed by a breakout from 19.50, which is a long term trend line resistance since May last year. Recommendation: Buy.

In Retrospect: SINO, MBT

SINO

SINO gapped up on the first trading day, but eventually covered the gap during the succeeding trading days. Target price of 0.75 is still not reached. As of current 0.67 is the immediate resistance.

MBT

MBT broke out on the first trading day and had a gap up on the second trading day. But currently price encountered resistance at 68.50 which was the previous high last Feb. As of current support is at 66. Target price is still not reached and the downward move last Friday gives a chance for getting in. Price may move sideways to downward for the week. Support at 66 might be further tested this week. Next Resistance is at 68.50 and 73. Next support is at 65.50 and 64

StockWatch (May 21-25): SINO, MBT

SINO (Chart: Daily Resistance: 0.66 Support: 0.51/0.46)

SINO broke out of the symmetrical triangle. Target price is at 0.75. Be on the look out for flag or pennant formation

MBT( Chart: Daily Resistance: 64/66/68.50/73 Support: 63/60)

MBT is forming a symmetrical triangle. Resistance is at 64. Target price is 77. Possible resistance at 64/66. MACD has given a buy signal. Recommendation: Buy. Cutloss at 60.

In Retrospect: APXB, APC

APXB

This stock has started retracing its upward move last 2 trading days. Currently at 6.60, price can still move to as low as 6.30 before continuing the move up. The target price is still not reached.

APC

Momentum was strong in this stock that it did not retrace its movement. It continued to as high as 0.97. Target price of 1.10 is still not reached. But with the current high, it has formed the right hand part of another possible rounding bottom with a target price of 1.80. Currently, price may correct this week to as low as 0.81.

StockWatch (May 14-18): APXB, APC

APXB ( Chart: Daily Resistance: 6.90/7.70 Support: 6.30/5.80)

APXB broke out from the symmetrical triangle on the first trading day and proceeded to move to as high as 6.90. Target price for the formation is 8.30. There is a possibility of a return move down to 6.30. That level would be a good price to get in. Cutloss at 5.80.

APC (Chart: Daily Resistance: 0.78 Support: 0.64)

APC broke out of a rounding bottom formation. Target price is 1.10 Watch out for return move to 0.65 -0.70 to get in.

In Retrospect: EPHI, URC, ASIA,ATI

EPHI

Retraced back to 2.75. Possibility of a flag or pennant formation is now impossible as price may still move downwards for this week. There may be support at 2.60 level.

URC

I was wrong with the observation about the divergence. Based from what was taught in the advanced TA class, a shorter time period makes the divergence more credible. The divergence I pointed out was from Feb to May which somehow lessens the credibility of the divergence. When I looked at the shorter period in between Apr and May, there was no indication of divergence as the MACD moved together with the price both creating a lower low. Still looking for a sign of reversal, as of now support is at 15.75. A break lower than that could mean a continuation of the down trend.

ASIA

The support line needs to be redrawn as the price move sideways hitting the support line of the triangle. The symmetrical triangle is still intact. As of current the lowest price is at 12.00, but it could still move down to 11.50 for this week. At 11.50, this could be a good buy at that level assuming RSI still moves further near the 40 level and MACD does not cross below the zero line.

ATI
Price did moved further to 6.20, but the flag or pennant anticipated is already invalidated. After moving down to 6.20, price moved sideways invalidating the formation.

In Retrospect: EPHI, URC, ASIA,ATI

EPHI

Retraced back to 2.75. Possibility of a flag or pennant formation is now impossible as price may still move downwards for this week. There may be support at 2.60 level.

URC

I was wrong with the observation about the divergence. Based from what was taught in the advanced TA class, a shorter time period makes the divergence more credible. The divergence I pointed out was from Feb to May which somehow lessens the credibility of the divergence. When I looked at the shorter period in between Apr and May, there was no indication of divergence as the MACD moved together with the price both creating a lower low. Still looking for a sign of reversal, as of now support is at 15.75. A break lower than that could mean a continuation of the down trend.

ASIA

The support line needs to be redrawn as the price move sideways hitting the support line of the triangle. The symmetrical triangle is still intact. As of current the lowest price is at 12.00, but it could still move down to 11.50 for this week. At 11.50, this could be a good buy at that level assuming RSI still moves further near the 40 level and MACD does not cross below the zero line.

ATI
Price did moved further to 6.20, but the flag or pennant anticipated is already invalidated. After moving down to 6.20, price moved sideways invalidating the formation.

StockWatch (May 07- 11) : EPHI, URC, ASIA,ATI

EPHI (Chart: Daily Resistance: 3.10 Support: 2.40)

Possible return move for this week. Watch out for retracement near to 2.60. This is also a possible candidate for a flag formation.

URC (Chart: Daily Resistance: 16.75 Support: 15.75)

No chart pattern for URC except for the RSI reaching oversold level. We need to watch also the divergence of the MACD against price movement. If a higher low has been recorded in the MACD and price still moves lower, this may be a good sign of a reversal from its current down trend.

ASIA (Chart: Daily Resistance: 13.50 Support: 12.25)

ASIA is forming a symmetrical triangle, with a very promising target of above 23. The chart is very promising as MACD is consolidating above the zero line which is an indicator or bullishness. Recommendation: Buy only on break out. If the price moves further downwards, it may still go to as low as 11.

ATI (Chart: Daily Resistance: 6.80 Support: 6.30/ 5.60)

ATI may be forming a pennant or flag formation. Watch out for further downward move towards 6.20 level.

In Retrospect: WEB, DMC, IPVG

WEB

Price moved sideways for WEB with the lowest at 0.46. Currently 0.046 seems to be the support. But this support level may still be tested this week as price can still move sideways to down. This is still eligible for range trading, but watch out for support level of 0.046 as it may be challenged and price can move down to 0.045-0.044.

DMC

Broke out of the triangle on the second trading day, but closed inside the triangle. The succeeding days also saw the price going to as high as 7.80 but still closing inside the triangle. The break out had substantial volume, but it seems that bears still has the upper hand at this time as it was able to prevent price from closing higher and maintain a closing price of 7.30. For this week, price may still move side to upwards. Watch out for resistance at 7.60 and 7.80. Looking at the larger picture, there is a symmetrical triangle that formed since 2005; its target price is at 9.0. This I think further confirms the target price of the smaller symmetrical triangle, but it may take a while for it to achieve the target price.

IPVG

Broke out of the ascending triangle, closing higher with substantial volume. MACD seems to confirm the break out, but RSI is near overbought level. If by Monday this stock gaps up, you can wait for the return move to get in.