PSEi as of June 3, 2009

(PSEi as of June 3, 2009)

This does not look good.

Stockwatch: MEG, PX

(MEG Chart as of June 2, 2009)

MEG - should volume diminish while it consolidate, then it still a good stock to play.

Diminishing volume, while consolidating on a tight range between 1.1 and 1.18 will give us a small flag/pennant formation.

I think such formation is needed to be able for MEG to propel its way up to 2.50. =)

But, it is important to observe stop-loss too..

(PX Chart as of June 2, 2009)

PX furtheer confirmed its breakout from the pennant with huge volume.

It even went passed the 7.8 previous high last mid-Aug 2008.

Measured target price @ 8.6 which is also the breakdown point last Feb 2008.

Stockwatch: GEO, MA, MEG, MIC, PA, T

(GEO Chart as of June 1, 2009)

GEO breakout from the flag formation with good volume.

Target price measured @ .83.

One concern, pennant or flag formation should have diminishing volume and heavy volume upon breakout.

(MA Chart as of June 1, 2009)

MA seems to be forming a flag formation.

Resistance is @ .017. If this breakout from .017 the measured target price is @ .024.

(MEG Chart as of June 1, 2009)

MEG broke out from its 260-MA with nice volume.

Honestly, I can't seem to figure out what pattern MEG has.

Is it a symmetrical triangle? or Is it a big pennant? or Is it a W-pattern?

If it's a breakout from the symmetrical triangle, then the measured target price is @ 1.28 which will aslo close the gapped down last October 2008.

If it's a breakout from the pennant, then the measured target price is @ 1.50 which is the resistance of the triple top pattern last September 2008.

If it's a breakout from the W-Pattern, then the measured price is @ 2.50 which is the resistance area last Apr 2008.

What do you think?

(MIC Chart as of June 1, 2009)

MIC breakout from the flag formation with volume.

Target price @ 3.45, which is the target price of the 1st flag. However, target price for the 2nd flag is @ 3.9.

(PA Chart as of June 1, 2009)

PA still encountering resistance @ .0825.

If PA breakout from the .0825 with good volume , then PA is really a good buy with a target price @ .105.

(PX Chart as of June 1, 2009)

PX shows a breakout from the pennant formation with a measured target price @ 8.6.

However, the volume is not convincing, it was lower compared to its previous session.

Let' see how PX move from hereon, best to enter PX is breakout from 7.8 which is also the previous high from mid-Aug 2008 before it started to trend down.

(T Chart as of June 1, 2009)

T pierced the 260-MA today with volume.

T chart also shows a breakout from a flag formation with a measured target price @ 4.15.

Need to break the resistance @ 3.6 with volume.