Ang Blog Na Walang Sense

Found this blog by Yeahbah from the AT community. Ang Blog Na Walang Sense (http://www.absolutetraders.com/yeahbah/blog/)

This blog contains technical analysis on stocks by Yeahbah and some amusing posts to make your trading week very delightful! =)

StockWatch (June 25-29): PCP, BSC

PCP (Chart: Daily Resistance: 0.41/0.43 Support: 0.35)

PCP is forming a symmetrical triangle. Target price for the triangle is 0.62. Aside from the triangle, this stock is also forming a rounding bottom, but at current level, price is still has 1/3 more to move to form the right side of the rounding bottom. The target price for the rounding bottom is 1.14. It would be best to buy only on break out as there is still a possibility of price moving down. A good breakout volume would be 150M-170M shares traded.

BSC (Chart: Daily Resistance: 0.54/0.58 Support: 0.48)

BSC has broken out of a symmetrical triangle. Target price is 0.76.

In Retrospect: DGTL, TBGI, ELI

DGTL

DGTL broke out of the triangle but with insufficient volume in my opinion. Price went up to as high as 1.72 before moving sideways for 3 trading days. I have redrawn the triangle and its target price is increased to 2.16. The succeeding trading days needs to be observed as volume may come in if the 130 Moving average is broken, that is if the price continues to move upward. But it seems that for the moment, it will either move down to sideways for this week.

TBGI

TBGI immediately reached the 4.15 target price and went beyond it. Expect a side to downward movement for a short correction.

ELI

ELI is still a buy. Target price of 1.12 is not yet reached. A couple if important things to note: Last trading day has already covered the gap made last Feb sell down and volume for that day was also high, which makes this a very good buy.

New Technical Analysis Blogsites for the Pinoy Traders!

Browsing thru the Absolute Traders forum, I've found some trading blogsites on technical analysis from fellow traders in the AT community. Here they are:

A new Technical Analysis blogsite by Yamada San! The Sensei of Technical Analysis.

Tales of the Absolute Trader (http://tarantrader.blogspot.com/)


Photographer and Trader David Hanson shares his study in different PSE stocks at his technical analysis trading blogsite The Chronicles of the Stock Trader (http://www.thechroniclesofthestocktrader.com/)



Guerilla trading by Bandwagontrades/Filchinvestor sharing his views on the PSE stocks.
(http://guerillainvesting.blogspot.com/)

StockWatch (June 18-22): DGTL, TBGI, ELI

DGTL (Chart: Daily Resistance: 1.60/1.90 Support 1.50/1.52 )

DGTL is still in my watch list as it has not yet broken out of the triangle. Divergence is still intact and it has formed a strong support at 1.50/1.52. If triangle is broken, target price is 2.06. Looking at the bigger picture, the current triangle seems to be part of a cup and handle formation. Target price of the cup and handle formation is 3.22. This is still a very good buy considering the cup and handle formation.

TBGI ( Chart: Daily Resistance: 2.90 /3.35 Support: 2.42/2.22)

TBGI broke out of a symmetrical triangle. Target price is 4.15.

ELI (Chart: Daily Resistance: 0.88/0.92 Support: 0.83)

ELI broke out of the symmetrical triangle. Target price is 1.12. However price at 0.88 is a strong resistance as the price opened and closed at the same level on the day it broke out. This is probably due to those who are stuck at that level last March and April.

In Retrospect: MRC, IPVG, DGTL

MRC

Target price is not yet reached. Price is currently inching its way up with sufficient volume. The upward move is always accompanied with volume, while downward moves have little volume. At current level this is still a good buy.

IPVG

Sign of divergence of Price against RSI was invalidated during the week as RSI followed the price movement, creating lower lows. At this point, IPVG is a buy based on RSI. But expect that the upward move might only be a short term correction from the downward movement.

DGTL

DGTL went to as low as 1.50. Divergence is still intact. Stock at 1.52 seems to be a good support. This is still a buy.

StockWatch ( June 11-15) : IPVG, MRC, DGTL

IPVG (Chart: Daily Resistance: 6.70/7.00 Support: 5.90/6.10/6.30)

IPVG is possibly exhibiting signs of divergence of RSI against price. Price currently has formed a lower low, but RSI may be forming a higher low. Price may still move down or sideways. If price moves sideways and establishes a support at 6.30, this might be a good price level to buy. If MACD crossed above signal line, coupled with the divergence in RSI and Price is also a good signal to buy.

MRC( Chart: Daily Resistance: 0.89/0.93/0.97 Support: 0.82/0.76)

MRC broke out from a symmetrical triangle. Volume is sufficient for a break out, but it needs to pickup more volume for it to have a strong move upward. Target price is 1.40. Buy near 0.82

DGTL ( Chart: Daily Resistance: 1.60 Support: 1.52)

DGTL is showing signs of divergence. Both RSI and MACD might be forming a higher low, while price formed a lower low. If price continues to establish support at 1.52, this would be a good buy level. There is also a falling wedge pattern forming with a target price of 2.1

In Retrospect: WEB, FLI

WEB

WEB is still consolidating inside a triangle. The recent breakout had volume but the succeeding trading days saw price action moving inside the triangle. This has somehow formed a new ascending triangle with resistance at 0.060. Breakout from the ascending triangle might still be far. As of current 0.050 is a strong support.

FLI

FLI’s symmetrical triangle has been converted to an ascending triangle with resistance at 2.04. Price hit the resistance and then fell back to as low as 1.84. Wait for further movement as price may still move to as low as 1.80. Price at 1.80 is a good level to buy as this is the support line for the ascending triangle. If price breaches 1.80 sell. If price moves sideways and establishes 1.88 as a strong support, buy.

StockWatch (June 4-8, 2007) : WEB, FLI

WEB( Chart: Daily Resistance: 0.060 Support: 0.0525/0.050)

WEB has broken out of the symmetrical triangle, but has reached resistance at 0.060 and went back in the triangle. Target price is 0.080. Price may still move sideways for this week. Recommendation: Buy.

FLI ( Chart: Daily Resistance: 2.0 Support: 1.88/1.78)

FLI is forming a symmetrical triangle with target price at 2.60. Recommendation: Buy on breakout only. Price may still move down to 1.88 level. For a valid breakout, volume needs to reach above 400M shares traded.

In Retrospect: LND, URC

LND

Target price of 1.34 is not yet achieved. Currently on a sideways movement and volume is still notably significant, which suggests that more are still coming in to trade the stock. But this stock still has a long way to reach the target price so there may be some sideways movement for the mean time. Recommendation: Hold

URC

URC broke out of a falling wedge without volume. Expect resistance at 16.50 and 17.00 level. Current price movement may already be a reversal in the works. But a break out from the downward trend is still to be confirmed when price breaks 19.50.