PSEi Weekly Chart
PSEi (Chart: Daily Resistance: 2906 Support: 2840)Index still hasn’t broken out of the ascending triangle. Although technically this is still a valid ascending triangle, I am not anymore expecting that this would breakout. Index would most likely move sideways still for next week. But looking at the weekly chart, it seems that index is overbought so it is likely that index will move lower in the near future. I would recommend caution in buying and keep watch of the support line. Index is still respecting the support line as of current, but anytime it moves lower with large volume, that would be a signal to sell.
SPH (Chart: Daily Resistance: 4.05 Support: 3.60)SPH quietly brokeout from an upward channel which is completely unexpected as volume was not that significant in the past. Target price for this stock is near 4.50. Resistance at 4.05 which is the previous gap created last Oct 2008.
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