TraderCentral.ph

TraderCentral.ph
(www.tradercentral.com.ph)
-There's a new forum in the block and it's named TraderCentral.ph. As the name implies, this forum is a convergence site for traders. Expect discussions about a stock from a technical analyst's point of view. There are also topics on TALK (Technical Analysis Learning and Knowledge base) and if your still trying to grasp the TA chit-chats in this forum, you can post a question in the TALK area and some of the members will ofcourse gladly help you out. This forum is just in its infancy stage, but given some time, this will definitely grow in to a big community.

Kudos to TraderCentral pipol for setting up such a site.

StockWatch (Feb 27) -delayed

Forgot to post my analysis last monday, but just for historical purposes and to validate my analysis I will still be publishing my delayed analysis :D

PHISIX (Chart:Daily ** Resistance:2100 ** Support:2050)

As expected, last Friday’s turmoil painted the index red, but a surprising move happened on Monday. Just as I was expecting that the index would again plunge due to the Marines standoff last Sunday and the standing state of emergency, the index instead shined this Monday and closed near Thursday’s closing price. The index is currently moving sideways with a slight upward. What is very prominent is that the index is trapped in between the 65 and 130 day MA. It’s anyone’s guess as to when it would break out from the 2 MA’s. An event to look forward to is the upward crossing of MACD from below the signal line. But even if it crossed the signal line, it still might not be enough for the index to cross above the 65 day MA.

GLO (Chart:Daily ** Resistance:855 ** Suport:820)

In my last analysis, I expected GLO to pull down to 780-800 level. I guess I overshot my analysis. The stock pulled down reaching the 805 level and has continued to move upwards. Some of you may have noticed that there seemed to be a small pennant that formed in the succeeding days after the breakout. The pennant formation broke out last Thursday, but due to the turmoil last Friday, it started to dip, but was able to recover as of Monday. It is currently testing the support level, if it proves to be strong, we might still be able to see the realization of the pennant’s break out for the price to reach 880-890 levels.

PAX (Chart:Daily ** Resistance:7.80/8.00 ** Support:7.10/6.90)

It seems that this stock is trying to form an ascending triangle. But a couple of not so good things can be seen in the chart. First is the MACD opening wider and moving downwards. Second is the divergence of price from the RSI and MACD. Lets give this stock 1 more week and then we’ll check where it has gone. But as for now, my bet is that it would try to break the support at 7.10 and may still reach the 65 day MA.

PCOR (Chart:Daily ** Resistance:4.60 ** Support: 4.40 )

The 65-day MA, which proved to be a strong support for the past days, has been broken last Friday. Price is now below the 65-day MA, I expect price to move sideways in the coming days. One thing that I overlooked in my last analysis is the divergence of the price movement from the RSI and MACD values. If the resistance proves to be strong we could expect price to either move sideways or downwards. My bet is that prices will move down near the 4.0 price level due to the divergence.

JFC(Chart: Daily ** Resistance: 36-38 ** Support: 33)

260 day MA has provided strong support even during last Friday’s turmoil. I still expect prices to consolidate in between 260 and 130 day MA. In the mean time well focus on other stocks.

MBT (Chart:Daily ** Resistance: 34 ** Support: 32)

Looks like this stock is now poised for break out in the coming days. Buy at 34.50-35 if it breaks out; sell if it moves down to 33.50.


AC (Chart: Daily ** Resistance: 320 ** Support: 312)

Surprising move by AC, it formed a symmetrical triangle. As with any symmetrical triangle, it could either break up or down. I was bullish on this stock that I was expecting a break out, but last Friday’s turmoil sealed the triangle’s fate as it broke down from the pattern. Currently 260 day MA is acting as a resistance. We expect price to move downwards to 300 and there is still a possibility of reaching 275-290 price level

Stock Watch (Feb 18, 2006)..continuation

PCOR
Since its break out from a horizontal movement, this stock has continued moving upwards with occasional dips. In the chart we could see that by mid January, this stock has started to move downward, but this downward movement was caught by the 65 day MA in early Feb and it has since provided support at that level. One interesting formation that can be seen in the chart is the ascending triangle. If the 65-day MA would prove to be a strong support, we might see the price move upward again and possibly break the resistance level. Current resistance is at 5.10, if resistance is broken with volume, we could see the price head to 6.20 level. Buy at 5.20 if it breaks out. If it does not get sufficient steam and starts moving downwards, cut loss at 5. But as of now, I think it would still take a couple of days before the resistance is broken.

MBT
Possibility of an ascending triangle with resistance to break at 34. Buy at 34.50-35 if it breaks out, sell if it moves down to 33.50

Stock Watch (Feb 18, 2006)

DISCLAIMER: I am not liable for your sleepless nights should my analysis prove to be wrong and prices heads south =p

Its been a long time since I last posted a stock watch. A lot of movement occurred during the time I was away. So here's an update on the stocks.



JFC
This stock was very bullish the lst time we left off. It was trading in an upward channel on our last analysis, but now it has already gone far way off from the upward channel we last saw. From the looks of the chart, it seems the prices has now formed a descending triangleand broke down from that pattern at the price level of 38. Downward price target is at 31-32 level and has nearly been reached recently with the lowest price level at around 33. The 260 day MA is providing support and currently the price is now heading upwards again. But me thinks that the upward movement may hit a snag due to the 65 and 130 day MA plus the 38 level of resistance from which it broke down from. Support is at 33-34 level, immediate resistance at 37-38 level. Prices may consolidate for a while in between the 3 MA's




GLO
Lat time we left off of this stock, it was trying to run away from the 130 day MA. But with its price history, it has never really gone far beyond the 130 day MA. Previously after breaking the 130 day MA, this stock went tumbling down again way down below the 65 day MA. In its recent try to break the 130 day MA, it was again unsuccessful and price went down again. But this time there was something new, the price found a strong support level at the 65 day MA. With its try in breaking the 130 day MA a symmetrical traingle was formed and eventually the strong support at 65 day MA provided the launching pad for for a break out. The price broke out and has now nearly reached its target price. The recent break out had a very good price expansion. Expect a pull down of price to 780-800 price level and if the 260 day MA support level holds we may see the price to head higher

What's up with the 5GQ stock?

I left off last time with the analysis on the 5GQ(SA) stock analysis as to what is keeping the stock from appreciating. It seems that from the last time I checked there was only sideways movement with a strong resistance that formed at 0.12. But recent news has jolted the price up and back down again. As what I have said previously, this stock lacks some positive news to propel it upwards. But last Feb 9 an upward price movement happened with significant volume and expansion in price. Coincidentally it was also a day after the release of news confirming the creation of another office in Pakistan plus a good number of growing clients in Pakistan. Players might have been enticed by this news that price expanded from 0.13 to 0.14. But the sudden expansion in volume and price was not sustained long enough and a strong resistance was formed at 0.14 level. By Feb 15 the price stumbled back to 0.12 level, which was the previous resistance and now the current support level. This might have been due to the yearly report that was disclosed to the stock market last Feb 14, where in it confirmed the previous profit warning that was disclosed last Dec. Profit was down a half percent year-on-year. Just as a good news propelled the price with volume, this recent confirmation of a previously announced bad news kicked the price downwards from 0.13 to 0.12. The only positive thing about the downward price movement was that there was no significant volume. It means a lot are still holding on to their stocks and there was only a considerable few who gave up on the stock. The 0.12 price level would now act as a support price level, hopefully the price would stay above that level and if it does so, the possibility of 0.15-0.17 level is still within reach. I expect that the 2nd quarter report may be the propelling event of the stock. So hold on to your seats up until Sept for that report.