StockWatch: DGTL, MIC, NI, OPM, TBGI
I am kinda wary with how PSEi is moving. I drew a rounding bottom and from that PSEi has breakout just a week ago. It has actually gap up when it breakout from that rounding bottom. A few days later it again has gap up. People started getting bullish though most are still in the sideline this is evidently seen by low volume. Last week, even though DOW has dropped more than a 100pts, our index was barely affected by it. Right now, I'm seeing a weak support at around 2720 and a resistance at 2780. Well, I really hope the support will hold next week and eventually breakout from the 2780.
^PSEi as of August 15, 2008Current Pattern-Rectangle Support-2720 Resistance-2780
DGTL - I drew a rounding bottom and from that DGTL has breakout from its resistance @ 1.46. From that rounding bottom the target price is 1.70. However, last week DGTL seems to have been trading with the range of 1.46 to 1.52. (about 4%)
DGTL as of August 15, 2008Current Pattern-Rectangle Support-1.46 Resistance-1.52
MIC - For me MIC seems to be forming a descending triangle, which is bearish. MIC might breakdown to as low as 2.12.
MIC as of August 15, 2008Current Pattern-Descending Triangle Support-2.60 Resistance-2.80
If breakdown, target price @ 2.12.
NI - I wonder if NI will be trading with the range of 9.70 to 11.00. If the support @ 9.70 fails to hold NI might go down to 8.50.
NI as of August 15, 2008Current Pattern-Rectangle Support 9.70 Resistance 11.00
If breakdown, target price 8.50.
OPM as of August 15, 2008Current Pattern-Descending Triangle
Breakdown, target price .225
TBGI - TBGI seems to be forming a desceding triangle. It's very tempting to play this stock as this has been going from 2.95 to 3.25. However, looking at the chart makes it risky for me to play. It this breakdown, target price 2.65/2.70.
TBGI as of August 15, 2008Current Pattern-Ascending Triangle Support-3.00
If breakdown, target price 2.65/2.75
On summary, I'm seeing a lot of issue that are on the verge of breaking down. Thus, I'm staying by the sideline but will continue stock watching.
1 comments:
I'm just wondering why are you not interested in MEG shares.
In my months of trading, MEG shares is always consistently in the Most Active List in the Philippine Stock Exchange
I hope you can post technical analysis for MEG, SMDC and FLI. These are my bets in the property sector.
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