PSEi (Chart: Daily Resistance: 4299 Support: 4250)
The index moved downward to sideways last week. The MACD is still bearish and RSI is still overbought, there is still no good indication in the chart so expect further downward to sideways movement for the index next week
LCB (Chart: Daily Resistance: 0.42 /0.75 Support: 0.36)LC B is about to reach a support level at 0.36, the upper level of the gap up that happened last September and at the same time the 65 day MA level. The index has been moving downwards since Sep and it is now near oversold level. A bounce will definitely happen for this stock, so be on the look out for reversal formations.
CPM (Chart: Daily Resistance: 2.55 Support: 2.06)CPM is very much oversold with the RSI reaching below 30. This stock is definitely queued for a bounce from the low. As of current, there is a hammer formation last Oct 28 and trading last Oct 29 saw a black candle that is higher than that of the previous day. Come Monday if the stock opens higher, this is the confirmation of the reversal and a time to buy for the short term hold. Watchout for upcoming resistance at 2.52 which is the 65 day MA
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