PCP (Chart: Daily Resistance: 0.61 Support: 0.45)
PCP gapped up and brokeout from an upward biased channel (probably a weird looking symmetrical triangle) doubling the price in just 1 week. Target price for this pattern is 0.65. But looking at a larger picture below (PCP-Weekly chart), we can see that PCP has formed a rounding bottom with a target price of 1.14. But this rounding bottom may still have a possibility of moving sideways forming a cup and handle. PCP is definitely a buy.
PCP-Weekly Chart
NI (Chart: Daily Resistance: 30/28.50 Support: 22.50/19.75)NI has formed a symmetrical triangle with a possible MACD cross above signal line. Price may still move higher this week. The current symmetrical has a target price of 44. But this symmetrical triangle may become an ascending triangle if the previous high of 30 will become a strong resistance. Current price of 26 is a buy considering a resistance of 30. It’s a wait-and-see if this week would be a breakout or just an ordinary continuation of the upward move probably up to resistance of 30.
JFC( Chart: Daily Resistance: 57/61 Support: 54/53)JFC’s symmetrical triangle is still intact (see StockWatch and In Retrospect for Jul2-6). The price went to as low as 54. For the coming week, price movement is side to upward. Target price for the symmetrical triangle is 68.50. At current price of 54, this is considered a buy.
GEO (Chart: Daily Resistance: 3.05 Support: 2.70/2.50)GEO has shown signs of divergence of the RSI and MACD against price. MACD and RSI has formed a lower low while price has formed a higher low. As of current, there is still room for further upward move. The pattern looks like a small ascending triangle, but the volume last July 5 seems to break the diminishing volume characteristic of an ascending triangle. If the ascending triangle is really valid and breaks out, target price will be at 3.70. With consideration of the divergence, it might be good to lighten your position at that level and buy back later.
PEP might move towards 0.98 possibly forming either a symmetrical or ascending triangle with possible MACD crossover
WIN might move toward 0.75 possibly forming either a symmetrical or ascending triangle, with possible MACD crossover
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