Wednesday, January 19, 2011
Wednesday, May 20, 2009
For much of 2008, this stock had been on a downtrend. Not until recently, it began showing signs of reversal when it broke above its trendline when it closed at P5.10 last Apr. 17. It continued it surge before consolidating in a pennant formation.
I believe it did broke out yesterday when it closed at P8.10 and today's closing at P8.30 affirms that it indeed broke out as it was coupled with volume. I'm looking at a target above P10. I see however weak resistance on its way to that target. Just look at those volume...they we're thin.
Tuesday, March 3, 2009
Despite a generally down market, JGS seems to defy gravity. A quick look at its chart shows that it's forming a cup and handle formation with a breakout point at P2.90. However, with the Phisix breaking down from its consolidation pattern today, we could just watch and observe how this stock will behave tomorrow.
Thursday, January 8, 2009
After 2 months of waiting, it looks like Tuna just broke out of consolidation. It has been forming an ascending triangle formation since the middle of last year and failed to break the resistance at P1.62. Today's closing at P1.80 with decent volume just broke that line. On top of this, it likewise broke out of it's long term downtrend line. It is now trading above all moving averages; MACD pointing upwards and is now above the zero line. Looks like bullish to me. Initial target price...at P2.10. Hopefully, it swims further.
Thursday, October 30, 2008
TUNA has been consolidating in an ascending triangle pattern since mid September. It's been trying to break the resistance at P1.42 a number of times already. Yesterday it tried to break out but closed at the resistance line. Today, it managed to close at P1.44 to break out from that resistance line. I'm concerned, however, in the lack of volume.
But what's worth noting is that it's now currently trading above the 50 & 100 day moving averages. MACD likewise have gone slightly above the zero line. Tomorrow could be a make or break for this stock as it tries to break out of that triangle. Watch out for that volume.