PSEi (Chart: Daily Resistance: 3372 Support: 3211)
The index moved lower for this week with a big gap down on the first trading day of the week. It seems that bulls are unable to propel the index beyond the previous high. On the last trading day for the week we see the index trying to move higher, but the bears are still fighting and we are left again with a stalemate position with the opening value near the closing value, but with a bias for the bears as the closing value is lower.
For the coming week, expect the index to move sideways and probably would recover by the end of the week. Still observe the resistance line from June 2008 and support at the 65 day MA level (3211).
PNB (Chart: Daily Resistance: 30.50 Support: 28.50)PNB is exhibiting a symmetrical triangle formation. The stock is near the apex, so we might be seeing either an upward or downward breakout for this stock. Upward target price is 40 while downward target price is below 20. Watch out for a possible breakout or break down of the formation.
NRCP (Chart: Daily Resistance: 1.72 Support: 1.54)NRCP brokeout of a symmetrical triangle with an upward target price of 1.75. Target price is already near so expect resistance on the 1.75 level. This stock however, has the potential of moving further up as the MACD is widely opening upward and above the centerline.
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