StockWatch (Nov 20-24, 2006) MERB, LND, GSMI

MERB (Chart: Daily Resistance: 37.50 Support: 35/33/31)

MERB has broken an ascending triangle with volume, but not enough to characterize a good breakout. A pennant has also been formed, broken with very good volume and reached its target price. The things to look out for are the following: A. Another pennant formation. If this happens, then 37.50 resistance (previous high of 2004) can be easily broken. B. Downward movement if 37.50 is not broken. We could see a downward movement if 37.50 has not been successfully broken. Hopefully, it would just be a move towards the 35/33/31 support level. Any move further downward might result into a year long consolidation between 37.50 and 20.

LND ( Chart: Daily Resistance: 0.96 Support: 0.69 )

Interesting to note: The downward price movement is not accompanied by volume, which suggests that people are still holding on to the stock at 0.8-0.9 level. Currently price is now at 0.7 level and based on SMI we might see an upward move for this stock again.

GSMI (Chart: Daily Resistance: 21 Support: 18)

This is one stock to avoid, for now. GSMI gapped down with volume, which is a very very bearish event. Probably wait for the price to go down to 18-19 level before going in.

StockWatch (Nov 13-17, 2006) Mining Index, LCB, APXB, PX, MEG, JGS

Mining Index

Just something to note: The mining index registered an unusual increase in volume last Friday. The index gapped up with high volume, which indicates that traders have started coming in. We may see mining stocks having their day in this bullish market.

LCB (Chart: Daily Resistance: 0.35/0.38 Support: 0.30/0.27)

LCB picked up in volume lately. No pattern has emerged, except for an upward channel. But with the pickup in volume, and the mining index picking up, we could hope that LCB would ride with the wave towards the long term resistance at 0.45 level.

APXB ( Chart: Daily Resistance: 7.50 Support: 6.50)

Interesting to note: APXB gapped up with volume. High possibility of upward movement to break the resistance as MACD positioning to cross above the signal line. Although RSI might be oversold, seeing previous RSI levels may indicate that a move beyond the oversold level is a possibility. Hopefully APXB (and APX) could also ride the mining wave.

PX ( Chart: Daily Resistance: 5.00/5.50 Support: 4.30/4.00)

Interesting to note: PX gapped up and broke out from a short term resistance line of 4.30. The increase in volume hopefully would bring the price up to its previous high of 5.90

MEG( Chart: Daily Resistance: 2.44 Support: 1.96)

MEG has had a bearish move recently. MACD crossed below the signal line accompanied with volume. No pattern has emerged yet, but what MEG needs is additional volume in its upward move for it to reach the previous high. If more volume does not come in, we could see a side to downward move. For now, a bounce from the support might be forthcoming.

JGS ( Chart : Daily Resistance: 8.10 Support: 7.90/7.40)

JGS has formed a rounding bottom pattern, with the characteristics of high volume activity on the sides of the pattern. But recent price movements have somehow started to invalidate the pattern as no high volume came to break the resistance and the price continued its sideward movement. RSI is currently oversold and MACD has crossed below signal line, which might indicate an up coming move downwards. For now it would be best to take profit and possibly pick it up later.

StockWatch (Nov 6-10, 2006) SMPH, JGS, PCOR, BPC

SMPH

SMPH reached its ascending triangle target of 9.50.




JGS (Chart: Daily Resistance: 8.10 Support: 7.90-7.40)

JGS has reached last May’s previous high of 8.10 and it is now testing that resistance. It is a wait and see if the resistance will be broken by the bulls. If it is broken with volume, we may see a move towards P9-10 level. A short term down movement may happen as the stock is on the oversold level and MACD is positioning to cross down the signal line.




PCOR (Chart: Daily Resistance: 4.45 Support: 4.20)

The support held after the breakout and last Friday we saw the volume pick up to 13M shares traded. The price also went above the 260 day MA. Previous high last July is now the current resistance at 4.45. Target price for this breakout is 5.10




BPC (Chart: Daily Resistance: 1.46/1.54 Support: 1.42)

After breaking out of a small symmetrical triangle, it has started to retest the previous resistance line, which is now the support. A gap down can be noticed 2 days after the break out. If the support holds, we may see a move back up to 1.54. If the support is broken, next level of support is 1.38. But the high volume at breakout gives a higher possibility that the support would hold and the gap down be covered.

StockWatch (Oct 30-Nov 3, 2006) MERB, PCOR, PLTL, PX

MERB (Chart: Daily Resistance: 33 Support: 30 )

The stock is forming an ascending triangle with resistance at 33 and a possible upside of P5. But currently it is also trading within an upward channel. At this point, the ascending triangle is still in its early formation and the volume is not yet confirming the formation. If the ascending triangle is invalidated, we may just see a continuation of the upward channel with resistance at 34.


PCOR (Chart: Daily Resistance: 4.20 Support: 4.10)

PCOR has already broken out of the symmetrical triangle, the breakout volume was sufficient enough but not convincing, and the 260-day MA is currently blocking the price from going up. PCOR needs a little more push. Hopefully more volume would kick in the following days and that the support would hold.




PLTL

Previously I was expecting this stock to go down anytime, but it looks like traders are bullish with this stock and kept on buying it up to 5.30. As of current, MACD has turned from bad to good. Maybe we could expect more from this stock, but we don’t know up until when this upward trend will last. Better keep an eye on the MACD.



PX( Chart: Daily Resistance: 3.95/4.0 Support: 3.70/3.40)

The small ascending triangle previously noted is still intact. Hopefully the support holds

StockWatch (Oct 23-26, 2006) PSEi, PCOR, FLI, PLTL, PX, AT

PSEi

It is just interesting to note that as of last Friday, the PSEi has already gone past the previous high since last May’s Bull Run. Some stocks are also exhibiting signs of reaching their previous highs last May.

PCOR(Chart: Daily Resistance: 4.10 Support: 3.90)

The symmetrical triangle is still intact. Price is now nearing resistance and currently the 65 day MA is providing support. Again, hopefully the pattern stays intact within the week and the price breaks the resistance. Otherwise if the consolidation is prolonged, the pattern may be invalidated

FLI ( Chart: Daily Resistance: 1.70 Support: 1.60)

FLI is forming a small ascending triangle. Though the possible upside from the pattern is small (just 0.10), it may be an indication that it might be able to reach the previous high of 1.90 last May

PLTL (Chart: Daily Resistance: 5.00 Support: 4.80)

PLTL’s previous rising wedge pattern has been invalidated by the new highs last Monday and Tuesday. From a rising wedge, it has now transformed into an upward channel. But, even if it has changed pattern, the MACD is still in a bearish stance and the higher highs generated by the previous trading days has created a confirmation of the divergence of price from the RSI and MACD

PX( Chart: Daily Resistance: 3.95/4.0 Support: 3.40)

PX seems to be forming a big symmetrical triangle or just an upward channel. From within that big pattern, you can also see a small ascending triangle extending from Sept to Oct with resistance at 3.95. If the small ascending triangle is broken with volume, probably above 15M shares traded, it would have an upside target of 4.75.

AT (Chart: Daily Resistance: 8.50 Support: 8.20)

AT’s falling wedge has been broken in the last 2 days trading of the previous week. The volume on the breakout point is significant, but I think it is lacking. I was looking forward to a volume of above 3M shares traded for the break out point, but it did not materialize. The lacking volume on the breakout point was further confirmed by a low volume on the next trading day. From 2M, volume went down to 200T shares. With this kind of lethargic volume, I am inclined to think that the current price may test the support. Hopefully, if the support is tested and the price succeeds to remain above support and MA line, volume would come in to propel the price to the 9.50 possible target. As of current, I don’t think that would be achieved if the volume does not pickup.