In Retrospect : PX, LCB, TBGI

PX

Affected by the global sell off, PX went to as low as 3.85. Price may move further down or sidewards for the coming week. Immediate support level is at P4 level, which is also the 65 day moving overage. A move below the P4 support may indicate that the sell off is not yet finished. Next support level is at 3.90.

LCB

This stock went up for another day before encountering a resistance at 0.42, a day before the sell off. But LCB has had better luck than the other stocks during the sell off as the price did not plunge very deep. As of current, the stock seems to be undecided and has currently formed a neutral ground at 0.35. Next support is at 0.32. Price may still move down or sideward for the week. This stock still has the potential to move up, just watch the volume.

TBGI

This stock started a sell off earlier than the global sell off. The volume on the first trading day of the week was big, which suggests that there was an almost equivalent change of hands for this stock. There were more traders who bought downward than those who bought on the up move. Volume on the succeeding days were very little compared to the first day, which also suggests that there were a lot of traders still stuck due to the global sell off. Currently the 2.30 level, which is also the 130 day moving average provides support for this stock. As long as the 2.30 support level holds, there is still a bigger chance for this stock to move up. Although a couple of sell offs might happen as it moves up as other traders who got stuck might want to get out.

StockWatch (Feb 26- Mar 2): PX, LCB, TBGI

PX (Chart: Daily Resistance: 4.70/4.80 Support: 4.25/4.15)

PX broke out from an ascending triangle. Target price of 4.80 is near as price went up as high as 4.65. Recommendation: If a short pull back happens, buy.

LCB (Chart: Daily Resistance: 0.39 Support: 0.32)

LCB had a large volume last Friday. Although, there is no area pattern that it broke out from, this might be a break of the down to sideways movement that it has been in since June 2006. At current, the stock is overbought and we may see down to sideward movement for this week. If the stock still pushes beyond 0.40, expect resistance at that level up to 0.45 as this is the price level where a lot were stuck since last year. If incase the 0.45 is broken, this is an indication that this stock is now on an upward move as the 0.45 price level is the long standing resistance of a downward channel since Jan 2005. Recommendation: Catching the stock at this price level would be too risky as the resistance of 0.40 is near. If you are a daredevil trader, try catching the stock at 0.37 and quickly sell at 0.40 for a 6% profit. Otherwise, wait for a pull back of price and then evaluate you entry. Currently MACD is above zero line and opening upward, which means this is a candidate for long term trading.


TBGI (Chart: Daily Resistance: 2.8/3.2/3.35 Support: 2.6/2.34)

No area pattern for TBGI. Volume just caught my attention. Price movement during the last 3 days had large volume and may be the start of price breaking out of the sidewards movement from Jan 2007. This stock has the potential of reaching 4.0 level, but may have to fight its way up as a lot might have been stuck at 2.8-4.0 level. Positive sign is the MACD which is approaching the zero line. Hopefully the MACD crossing above zero line may bring in more volume for it to be able to battle its way to 4.0 level. Recommendation: Buy, however watch out for the resistance levels along the way. If there is low volume on its way up, start cashing in.

In Retrospect : ASIA, COL, APC, UPM

ASIA

ASIA went up for another day before the sell down. The possibility of a flag or pennant formation fizzled out .

COL

COL seem to have successfully broken the pennant formation and has reached the target price at 7.5.

APC

APC retested support and seems to be on a sideward movement for the moment. Might have established support at 0.41. If price moves below 0.41, sell.

UPM

The possible symmetrical triangle was invalidated as price went to as low as 0.68. Price formation transformed to either a downward channel or a slender symmetrical triangle.

StockWatch (Feb 19-23): ASIA, COL, APC, UPM

ASIA (Chart: Daily Resistance: 13 Support: 10.25)

ASIA maybe forming a flag or a pennant. The pole is already formed; we just have to wait for the flag or pennant. Recommendation: Wait for 3 days to see if a flag or pennant forms

COL (Chart: Daily Resistance:6.2 Support: 5.6 )

COL may be forming a flag or pennant also. The pole has been formed and we just have to wait for the formation of the flag or pennant. Recommendation: Wait for 3 days to see if a flag or pennant is formed

APC (Chart: Daily Resistance: 0.47 Support: 0.40)

APC seem to have broken from a symmetrical triangle in the last minute. A possible upside of 0.58. Recommendation: Buy near support. Price may re-test support before moving upwards again.

UPM (Chart: Daily Resistance: 0.80 Support: 0.72)

UPM still has its symmetrical triangle intact. Possible upside of P1.00. Recommendation: Wait for the break out. At this point the price should bounce up. If not, this means a prolonged symmetrical triangle. This is also a candidate for range trading. Buy at support, sell at resistance. If price move further down, sell at 0.70

In Retrospect : TBGI, RLT

TBGI

The stock still continued to trend slightly down to side ways. MACD is still bullish and support is still not broken. Recommendation: Sell when support at 2.26 is broken.

RLT

RLT went to as high as 0.86 and it is currently moving sideways. MACD is still bullish, but RSI is on the oversold level. Price may continue to move slightly down to sideways before pushing towards 0.90 again. Recommendation: Hold.