StockWatch (July 2-6) : ASIA, JFC, SMC

ASIA( Chart: Daily Resistance: 13.00/13.50 Support: 11.75/11.50)

ASIA is forming a symmetrical triangle with a target price of 23. Currently, price is near support line from Feb, which is a good buy level. Symmetrical triangle is near the apex, so breakout (or down) should happen anytime soon. Otherwise we have to redraw our support and resistance line. Aside from the symmetrical triangle, on a bigger picture, the charts is showing signs of a rounding bottom or cup and handle formation, however this formation is not yet ripe for the picking.

JFC (Chart: Daily Resistance: 56 Support: 52.50/ 49.50)

JFC is forming a symmetrical triangle with target price of 67. Price is currently near the support line from May, so this is currently a good buy level.

SMC (Chart: Daily Resistance: 76.50/80 Support: 72)

SMC is forming a small rounding bottom with resistance at 80. As of now anything could still happen, the rounding bottom formation might be replaced with a symmetrical triangle or ascending triangle depending on the outcome of the trading next week. Buy only on breakout.