StockWatch (May 18-22, 2009): PSEi, DMC

PSEI (Chart: Daily Resistance: 2350/2400 Support: 2256/2060)

The index moved sideways for a moment last week, but ended still strong by Friday, having successfully moved farther from the 260 day MA (green line).

There are two upcoming resistance at 2350 (orange horizontal line), which is the gap from Oct 2008 and 2400 which a point in the line connecting the peaks of May and Aug 2008.

There may still be some small upward movements next week, but trade cautiously. RSI is still very much overbought and a correction is due any time. Probably it would be best to sell a portion for the mean time to lock-in some of the profits.



DMC (Chart: Daily Resistance: 7.30 Support: 5.1)

DMC had a break out with volume from a rounding bottom pattern. Volume on breakout was large. Modest target price is at 8.5 . Upcoming resistance at 7.30 which is a previous high. If you buy at the current level of 6.9, cutloss is at around 6.5.

In Retrospect: DMC, AJO

DMC

DMC still hasn’t reached the target price of P13. Price was stopped at P12 and opened lower on the first trading day. What I think was positive for this stock was that during the days that it was sold down, volume was low. This might be an indicator that a lot are still bullish with this stock and are still holding on to it. On the last trading day, the stock opened and closed on the same price level, so this means anything can still happen by next week. As of current, resistance is still at P12 and there maybe support at price levels 10.75-11.25. This may consolidate for a while, but considering the position of the 65 day MA and the 130 day MA, this looks like it is poised for a cross over and continue the upward move. The crossover may be used as a buy signal.

AJO

AJO was also stopped from achieving the target price of 0.21. Bullishness is still with the stock because even if there was large volume on the sell down on Wed, there was just as must trades on the day after where the stock was bought up. However, this stock will still further consolidate and the condition may still shift. As of current support is at 0.15. The 65 day MA crossover with 130 day MA can be used as a buy signal.

StockWatch (Nov 05-09, 2007): PSEi, DMC, AJO

PSEi (Chart: Daily Resistance: 3800 Support: 3680)

The index gapped down on the first trading day after the Glorietta 2 blast. The previous falling wedge that I was expecting to form was invalidated by the gap down. Currently the index was able to cope with the gap down and has now covered the gap that was made. The gap down that happened seem to have made a symmetrical triangle formation with the index. Index at 3,800 is currently the resistance and support at 3680. Upside target for the symmetrical triangle is at 4100, the downside is at 3380. There is still a high possibility that we may have to redraw the triangle or it may also be invalidated. It's still a wait and see for our index considering that the Dow has recently suffered another 200 points down last week. Plotting the Bollinger Band on the chart, it looks like a move will occur anytime soon as the bands are constricting

DMC( Chart: Daily Resistance: 12 Support 10.75/10.25)

DMC broke out of the ascending triangle during the 2 trading days last week. Target price for the ascending triangle is at P13. At the current price level of 12, it is already very risky to get in. There may be profit taking next week as some may lock in their profits at P12

AJO (Chart: Daily Resistance: 0.15/0.17 Support: 0.13/0.12)

AJO broke out of a symmetrical triangle. Upside target of 0.21. Resistance at 0.15 and 0.17 which are the previous highs. Support at 0.13. Sell when it goes to 0.12. This means weakness in the breakout if it moves to 0.12

In Retrospect: WEB, DMC, IPVG

WEB

Price moved sideways for WEB with the lowest at 0.46. Currently 0.046 seems to be the support. But this support level may still be tested this week as price can still move sideways to down. This is still eligible for range trading, but watch out for support level of 0.046 as it may be challenged and price can move down to 0.045-0.044.

DMC

Broke out of the triangle on the second trading day, but closed inside the triangle. The succeeding days also saw the price going to as high as 7.80 but still closing inside the triangle. The break out had substantial volume, but it seems that bears still has the upper hand at this time as it was able to prevent price from closing higher and maintain a closing price of 7.30. For this week, price may still move side to upwards. Watch out for resistance at 7.60 and 7.80. Looking at the larger picture, there is a symmetrical triangle that formed since 2005; its target price is at 9.0. This I think further confirms the target price of the smaller symmetrical triangle, but it may take a while for it to achieve the target price.

IPVG

Broke out of the ascending triangle, closing higher with substantial volume. MACD seems to confirm the break out, but RSI is near overbought level. If by Monday this stock gaps up, you can wait for the return move to get in.

StockWatch (April 30 – May 4, 2007): WEB, DMC, IPVG

WEB (Chart: Daily Resistance: 0.048/0.050/0.0525 Support: 0.046/ 0.044)

WEB is forming a symmetrical triangle. Price movement for this week may either move side to upward. This is very eligible for range trading. Recommendation: You could trade the range for this stock. Buy at 0.048, sell at 0.055. Watch out for resistance at 0.050/0.0525. Cut loss at 0.046.

DMC (Chart: Daily Resistance: 7.40 Support: 7.10)

DMC is forming a symmetrical triangle with target price at 8.90. Recommendation: Buy only on breakout. Price may still move side to downwards. Currently 65 day MA is providing support. Keep a close watch for this stock as breakout may happen this week. If the 65 day MA is broken downwards, expect a move further down to 6.90. If the price moves sideways for this week, we can redraw the support line and see if the symmetrical triangle is still intact.

IPVG (Chart: Daily Resistance: 7.10 Support: 6.40/6.30)

IPVG’s support was redrawn, and the ascending triangle is still intact. Price action may still move side to downwards. Recommendation: 6.40 is a good level to buy, but also watch out for dips to 6.30. Cut loss at 6.00

Inretrospect (April 23-27,2006) PHISIX,DMC,PX/PXB

PHISIX

On my last analysis, I expected PHISIX to correct and it did the past week. It plunged to the support level of 2225. What I did not expect was for it to bounce back and break the resistance at 2260, the previous week’s high. I guess a lot are still bullish.

DMC

In my last analysis, I expected a correction and it did happen for only a day with a significant expansion on the downward movement. But a lot are still bullish with this stock that it had 2 consecutive gap up on the middle of the week accompanied by large volume. I’d like to conclude that the highest level can be considered as an island reversal, but the volume suggests otherwise. I still maintain a cautious stance on this stock, as it is still very much overbought.

PX/PXB

Looks like this stock is now confirmed to be on its way down. RSI still confirms an overbought level and MACD has started to move down the signal line. I still would like to maintain a cautious stance on this stock.

StockWatch (April 24-28, 2006) PHISIX, DMC, PX/PXB

PHISIX(Chart:Daily ** Support : 2220-2240** Resistance: 2390)

PHISIX is near the red line as RSI approaches the 80level. It may still kick up some points but I expect a correction any time this week as I have observed that a lot of stocks has already reached overbought level.

DMC (Chart:Daily ** Support: 3.6 ** Resistance: 4 )

This stock is dangerously on the red line. It has now reached above the 80 RSI overbought level, so I expect that by this week a correction would occur. Price may head down to the 3.6 level.



PXB/PX(Support: 3.4 Resistance: 4.3)

PXB/PX has started to move downwards from the overbought level. I expect support at 3.4 near the 61.8% Fib Retracement.