In Retrospect: ASIA, JFC, SMC

ASIA

ASIA went to as low as 11.50 one of its support level. The symmetrical triangle support line needs to be redrawn a little bit. In my opinion, a strong support level at 11.75 was established last week. Movement for this week could be sideways or up. Price action is very near the apex, so this is still a stock to watch. Buy only on break out.

JFC

Good thing with JFC is that the support line was very much respected on the trading days last week. It went up to as high as the resistance level of 56. MACD has crossed over the signal line which is very good. Another good indicator is a divergence of MACD and price last week. Any of these things could happen next week: a) Sell down to the 65 day MA support of around 54 possibly because of those who would want to cash in already. b.) RSI to move down near 50, or c.) A break out! A satisfactory breakout volume should be above 2M shares. Target price is 67.

SMC

Nothing significant happened, except that the stock moved sideways, forming an ascending triangle. However, the volume does not seem to confirm the formation. Though the rounding bottom is still intact. Still a stock to watch.