In Retrospect: PCP, NI, JFC, GEO

PCP

PCP went to as high as 0.75 before moving down to as low as 0.53. Price movement for this week may either be side to down. Next support is 52/49/45

NI

NI went only as high as 27 and as low as 23. I was wrong on this one, neither a break out nor an upward move happened. Price continued to move downwards. I guess I was wrong at anticipating an MACD cross above the signal line to propel an upward move, which never happened.

JFC

JFC went to as low as 53 for the week. I was wrong again on the upward move, as price went down. Triangle is still intact so this is still a stock to watch.

GEO

Move down last week and somehow invalidated the ascending triangle. Looks like further downward move for this week.

StockWatch (July 16-20) : PCP, NI, JFC, GEO, PEP, WIN

PCP (Chart: Daily Resistance: 0.61 Support: 0.45)

PCP gapped up and brokeout from an upward biased channel (probably a weird looking symmetrical triangle) doubling the price in just 1 week. Target price for this pattern is 0.65. But looking at a larger picture below (PCP-Weekly chart), we can see that PCP has formed a rounding bottom with a target price of 1.14. But this rounding bottom may still have a possibility of moving sideways forming a cup and handle. PCP is definitely a buy.

PCP-Weekly Chart

NI (Chart: Daily Resistance: 30/28.50 Support: 22.50/19.75)

NI has formed a symmetrical triangle with a possible MACD cross above signal line. Price may still move higher this week. The current symmetrical has a target price of 44. But this symmetrical triangle may become an ascending triangle if the previous high of 30 will become a strong resistance. Current price of 26 is a buy considering a resistance of 30. It’s a wait-and-see if this week would be a breakout or just an ordinary continuation of the upward move probably up to resistance of 30.

JFC( Chart: Daily Resistance: 57/61 Support: 54/53)

JFC’s symmetrical triangle is still intact (see StockWatch and In Retrospect for Jul2-6). The price went to as low as 54. For the coming week, price movement is side to upward. Target price for the symmetrical triangle is 68.50. At current price of 54, this is considered a buy.

GEO (Chart: Daily Resistance: 3.05 Support: 2.70/2.50)

GEO has shown signs of divergence of the RSI and MACD against price. MACD and RSI has formed a lower low while price has formed a higher low. As of current, there is still room for further upward move. The pattern looks like a small ascending triangle, but the volume last July 5 seems to break the diminishing volume characteristic of an ascending triangle. If the ascending triangle is really valid and breaks out, target price will be at 3.70. With consideration of the divergence, it might be good to lighten your position at that level and buy back later.


PEP might move towards 0.98 possibly forming either a symmetrical or ascending triangle with possible MACD crossover

WIN might move toward 0.75 possibly forming either a symmetrical or ascending triangle, with possible MACD crossover

In Retrospect: PCP, BSC

PCP

Affected by the correction, PCP has only reached a high of 0.44 before moving down. Currently 0.35 seems to be a strong support, but there is still a possibility that price may move down to 65day MA at around 0.30.

BSC

BSC was affected by the correction and price went back in the triangle. It went to as low as 0.43. As of this point, all indicators for this stock are still ok. There are no signs of divergence, while MACD is in position to cross below the signal line, we still have to wait and see if this will happen by next week. If by next week, price starts to continue its move up once again and MACD desists with its impending cross below signal line, this will be a good sign that the stock may still have steam considering that the move down did not have much volume. But if price action continues its move down or sideways for all trading days next week, this will be a further sign to lighten or close your positions.

StockWatch (June 25-29): PCP, BSC

PCP (Chart: Daily Resistance: 0.41/0.43 Support: 0.35)

PCP is forming a symmetrical triangle. Target price for the triangle is 0.62. Aside from the triangle, this stock is also forming a rounding bottom, but at current level, price is still has 1/3 more to move to form the right side of the rounding bottom. The target price for the rounding bottom is 1.14. It would be best to buy only on break out as there is still a possibility of price moving down. A good breakout volume would be 150M-170M shares traded.

BSC (Chart: Daily Resistance: 0.54/0.58 Support: 0.48)

BSC has broken out of a symmetrical triangle. Target price is 0.76.

StockWatch(Sept 25-26, 2006) PHISIX, PCP, APXB

PHISIX
Currently within a pennant formation, if the pennant is broken , upside is 2700

PCP

PCP is in a pennant formation. Resistance is at 0.17, support is at 0.15. Target price is 0.23. Sell immediately if it goes below support.


APXB

Already broke out of triangle. Waiting for a pullback at around 6 to get in