StockWatch (May 07- 11) : EPHI, URC, ASIA,ATI

EPHI (Chart: Daily Resistance: 3.10 Support: 2.40)

Possible return move for this week. Watch out for retracement near to 2.60. This is also a possible candidate for a flag formation.

URC (Chart: Daily Resistance: 16.75 Support: 15.75)

No chart pattern for URC except for the RSI reaching oversold level. We need to watch also the divergence of the MACD against price movement. If a higher low has been recorded in the MACD and price still moves lower, this may be a good sign of a reversal from its current down trend.

ASIA (Chart: Daily Resistance: 13.50 Support: 12.25)

ASIA is forming a symmetrical triangle, with a very promising target of above 23. The chart is very promising as MACD is consolidating above the zero line which is an indicator or bullishness. Recommendation: Buy only on break out. If the price moves further downwards, it may still go to as low as 11.

ATI (Chart: Daily Resistance: 6.80 Support: 6.30/ 5.60)

ATI may be forming a pennant or flag formation. Watch out for further downward move towards 6.20 level.

In Retrospect: WEB, DMC, IPVG

WEB

Price moved sideways for WEB with the lowest at 0.46. Currently 0.046 seems to be the support. But this support level may still be tested this week as price can still move sideways to down. This is still eligible for range trading, but watch out for support level of 0.046 as it may be challenged and price can move down to 0.045-0.044.

DMC

Broke out of the triangle on the second trading day, but closed inside the triangle. The succeeding days also saw the price going to as high as 7.80 but still closing inside the triangle. The break out had substantial volume, but it seems that bears still has the upper hand at this time as it was able to prevent price from closing higher and maintain a closing price of 7.30. For this week, price may still move side to upwards. Watch out for resistance at 7.60 and 7.80. Looking at the larger picture, there is a symmetrical triangle that formed since 2005; its target price is at 9.0. This I think further confirms the target price of the smaller symmetrical triangle, but it may take a while for it to achieve the target price.

IPVG

Broke out of the ascending triangle, closing higher with substantial volume. MACD seems to confirm the break out, but RSI is near overbought level. If by Monday this stock gaps up, you can wait for the return move to get in.

StockWatch (April 30 – May 4, 2007): WEB, DMC, IPVG

WEB (Chart: Daily Resistance: 0.048/0.050/0.0525 Support: 0.046/ 0.044)

WEB is forming a symmetrical triangle. Price movement for this week may either move side to upward. This is very eligible for range trading. Recommendation: You could trade the range for this stock. Buy at 0.048, sell at 0.055. Watch out for resistance at 0.050/0.0525. Cut loss at 0.046.

DMC (Chart: Daily Resistance: 7.40 Support: 7.10)

DMC is forming a symmetrical triangle with target price at 8.90. Recommendation: Buy only on breakout. Price may still move side to downwards. Currently 65 day MA is providing support. Keep a close watch for this stock as breakout may happen this week. If the 65 day MA is broken downwards, expect a move further down to 6.90. If the price moves sideways for this week, we can redraw the support line and see if the symmetrical triangle is still intact.

IPVG (Chart: Daily Resistance: 7.10 Support: 6.40/6.30)

IPVG’s support was redrawn, and the ascending triangle is still intact. Price action may still move side to downwards. Recommendation: 6.40 is a good level to buy, but also watch out for dips to 6.30. Cut loss at 6.00

In Retrospect: TBGI, MIC, GEO

TBGI broke the 2.50 resistance but was only able to move up to 2.55 before moving downwards. The price was blocked by the 130 day MA and moved to as low as 2.30. The symmetrical triangle is still intact and the MACD has now crossed above the zero line. Price action may move side to down this week probably a chance to get the stock near support level of 2.14. Recommendation: Watch out for support at 2.26 (65 day MA)/2.14 (trend line), these are levels where it would be good to buy. Cut loss if it goes below 2.10

MIC consolidated on the first 3 days of trading with 3.15 as resistance and move higher on the fourth day up to 3.60. The last day exhibited profit taking as the price went from 3.60 down to 3.30 closing at 3.40. Next resistance is at 3.80. There was no follow through with the volume after the breakout. RSI is currently overbought, so expect for the stock to move side to down. Recommendation: Sell a part of the position and buy back at a later time if the price moves down. MACD still looks good, so if RSI goes down from being overbought with price still moving sideways instead of down, start buying back. The next resistance at 3.80 is the target price for the Feb-April ascending triangle.


GEO went further down to as low as 1.76.

StockWatch ( April 23-27, 2007): TBGI, MIC, GEO

TBGI (Chart: Daily Resistance: 2.50/2.90/3.35 Support: 2.24/2.14)

TBGI broke out from a sidewards movement with very high volume. If the upward movement would still continue, it may break out from a symmetrical triangle with resistance at 2.50. The target price for the symmetrical triangle is 4.15. Recommendation: Buy on breakout. Expect resistance at 2.90 and 3.35 level. If you buy at 2.60, cut loss is at 2.40.

MIC (Chart: Daily Resistance: 3.15/3.40 Support: 2.60/2.44/2.30)

MIC has broken out of the long symmetrical triangle. Conservative target price is at 4.90/5.0. Next resistance is at 3.15 and 3.40, which are previous highs. Recommendation: Buy. Succeeding trading days should have the same or higher volume; otherwise it may find it hard to break the coming resistance levels. If upon reaching near resistance level, price movement shows weakness, sell a portion a buy back at a lower level.

GEO (Chart: Daily Resistance: 2.14 Support: 1.90)

GEO is displaying a divergence of MACD from the price movement. MACD displayed lower high, while price displayed a higher high. The recent break above 2.0 with less volume seems to indicate that not a lot are interested with the stock at that price level. Recommendation: Sell.