PSEi (Chart: Daily Resistance: 3070 Support: 2970)
The index brokeout from the monthlong sideways movement and it is accompanied by relatively larger value turnover. As of current, the index is overbought according to the RSI and the market reacted accordingly to this last Friday where a selldown happened. For the coming week expect the downward to sideways movement to continue. Watchout for support at 2970, that would probably be a good time to buy if support holds at that level.
BDO Weekly Chart
BDO (Chart : Daily Resistance: 39 Support: 36.50)BDO seems to have broken out of a big ascending triangle formed from July 2009. The breakout created gap up with a large volume. The weekly chart also confirms the breakout. Target price is at 43. Currently there seems to be a resistance at 39.50 which is a previous gap from Sep 2008. This might be affected by possible sideways to downward movement of the market, so do watch out if support at 36.50 holds.
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