StockWatch (Sep 08-11, 2009): PSEi, MIC

PSEi (Chart: Daily Resistance: 2895 Support: 2774)

The index continued to move downward and no break-out from the ascending triangle happened. Even though the index moved lower, it is somehow respecting the support line formed from March 2009 preventing it from moving downward any further.

The ascending triangle I think has this week as its last chance to break-out. If nothing still happens, then we would have to redraw again.


MIC (Chart: Daily Resistance: 4.70 Support: 3.90)

MIC had a breakout from an upward channel. Target price is at 5.30. This is definitely a buy, but be on the look out for a return move toward 3.90.