StockWatch (Mar 01-05, 2010): PSEi, ACR, APC, SINO

PSEi (Chart: Daily Resistance: 3133 Support: 3015/2946)

The index moved sideways for last week and for the last 2 trading days it seems that the index gained strength to move beyond the 65 day MA. But looking at the value turnover, the value turnover for the last 2 trading days were just average, so I still have reservations of calling the last 2 trading days as absolutely strong rally. Although there are some stocks that does exhibit a strong rally, but this is not the case in general. So expect the index to move sideways for the coming days. There is a possibility for the index to move further upward, but as of current I don’t see the index moving beyond the previous high of 3133.

ACR (Chart: Daily Resistance: 1.30 Support: 1.00/0.92/0.82)

ACR seems to have broken out of a falling wedge, which is a bullish indication. Target price for the stock is 1.25, but may have the possibility of moving beyond that level.

APC-Weekly

APC(Chart:Daily Resistance: 0.65/0.75 Support: 0.32)

APC for the last 2 trading days consecutively broke out of 3 area patterns with large volume: The first being the downward channel from Oct 2009 with the target already reached; Second is the sideways channel from Jun 2009 with a target price of 0.65; Last is the cup and handle formation as seen in the Weekly chart, with a target price of around 0.75. The stock is now very much over bought so expect a possible pull back of price by next week.

SINO (Chart: Daily Resistance: 0.35 Support: 0.26)

SINO also broke out of a downward channel from Sept 2009, with a target price of 0.35. Similar to APC, SINO seems to be forming a possible cup and handle formation, but unlike APC, it still has to break out of that area pattern, so upside potential of this stock is high.

In Retrospect: SINO, MBT

SINO

SINO gapped up on the first trading day, but eventually covered the gap during the succeeding trading days. Target price of 0.75 is still not reached. As of current 0.67 is the immediate resistance.

MBT

MBT broke out on the first trading day and had a gap up on the second trading day. But currently price encountered resistance at 68.50 which was the previous high last Feb. As of current support is at 66. Target price is still not reached and the downward move last Friday gives a chance for getting in. Price may move sideways to downward for the week. Support at 66 might be further tested this week. Next Resistance is at 68.50 and 73. Next support is at 65.50 and 64

StockWatch (May 21-25): SINO, MBT

SINO (Chart: Daily Resistance: 0.66 Support: 0.51/0.46)

SINO broke out of the symmetrical triangle. Target price is at 0.75. Be on the look out for flag or pennant formation

MBT( Chart: Daily Resistance: 64/66/68.50/73 Support: 63/60)

MBT is forming a symmetrical triangle. Resistance is at 64. Target price is 77. Possible resistance at 64/66. MACD has given a buy signal. Recommendation: Buy. Cutloss at 60.