BRN: Breaking Out?

A close look at the chart indicates that BRN was able to breakout from the pennant formation. Volume was quite significant. MACD continues to trend up and way above zero.

TP around P5.75.

MBT

Will support hold for MBT? Closed today at 44.50 and is still within that downward channel. Need to watch out that 41 - 41.50 level which lies along the major support line. A break below this could take this issue further downward. Take note of that previous breakdown from its head and shoulder pattern. Target price around 33 level.

Seems like risk outweighs the reward at this moment.

Why FLI Can't Fly

Filinvest Land. Looks like I've seen this pattern before (see my post on COL). Everything looks bearish on this issue. Not only did it broke down from its head and shoulder pattern, it likewise broke its major trendline which dates back to 2003.

Looks like this is heading down to less than P1.

Ay Ay Ay EEI!

The last 5 trading days show huge trading volume for EEI. Buying?

No way... Exit, Exit Indefinitely.

This is a confirmed breakdown from a double top formation, a bearish signal. MACD continues to slide. Looks like no stopping on this one.

So I say Monski, avoid this issue. Malalim ito.

Eyeing BPI?

BPI has managed to rally and closed higher for 4 straight days. It eventually broked out from the downward channel and is now poised to move up.

TUNA On My Menu

Tuna (closing at P1.66) has just been added into my watchlist. It recently broke out of its channel and the same time formed a long pole. It has been consolidating recently to form what I see as a pennant. Its MACD is likewise moving towards positive territory. A break above this pennant formation could take this stock to at least P2.20.

Tuna, anyone? Belly, panga, sashimi...

A Look Back At PSPT

To all my friends at PSPT who may be planning of cashing their options, here's my personal/techinical analysis of PSPT's stock performance.

As you can see from the chart, the stock is moving in an uptrend channel. It's MACD is positive which is a bullish signal. It's current price above all moving averages; another bullish signal. Last Jan. 11, it opened at its low of $13.37 and hit a day high of $15.25 forming a pole. It subsequently consolidated in a flag pattern (likewise a bullish signal). A break above $14.38 could propel this stock to around $16 which is the resistance.

Well, a break above that $16 could take this stock further to new highs.

Looks like all the bullish signals for PSPT. So friends, will you cash in or hold? You have your options.

Crown Equities, Inc.: A Jewel In the Making?

Today's bloodbath left a lot of charts dirty and ugly. However, there's at least one issue that was spared from the selloff. And that's because trading for this stock has been voluntarily suspended. As I study this chart, I initially saw a descending wedge pattern, a bullish signal. And then, when I zoomed out my chart, this is what I saw....

Whoa! isn't that a beauty? it's been forming a bullish cup and handle pattern. Upside is around P0.70 upon breakout and my personal target on this is at around P1.50. Isn't that exciting for a stock that closed at P0.55 last week before the trading suspension? Well, watch out. Trading is going to resume in 2 days...This I would love to play.

Up AP and Away?

Is AP about to breakout from it's symmetrical triangle pattern. From the chart below, it looks like it's poise to. Just need the volume to confirm this. Let's see if a breakout is indeed in the offing.

DGTL Update 2

Today DGTL opened at P1.60, dipped to a low of P1.54 and rebounded to close at P1.64. I reviewed my chart and confirmed that this issue retraced 50% of its prior uptrend thus we see that bounce after hitting the day's low of P1.54 (looks like a good buying opportunity, tsk tsk). It now closes slightly above the support line and could now resume its previous uptrend. Buy again?

COL's Collapse?

I see all bearish signs to this issue. Not only did this formed a bearish head and shoulder pattern, it likewise broke down from its major trend line. Double whammy ito!

MIC Test, MIC Test

Yesterday, MIC closed at it's low of P5.7. I thought that it has broken it's line of support. A look at my chart today shows otherwise. It is still in consolidation within a bigger triangle with breakout point at around P7.00 and support at around P5.70. I'll wait for that 7 before I take another position on this one.

DGTL Update

Yesterday, Jan. 7, DGTL closed at P1.60 piercing the support line at P1.62. I now see this as the resistance where Digitel posted a high of P1.62 today. Let's see how this stock will trend after. I am now out of this issue (sabi ni direk...CUT!!!) but will continue to monitor for any sign of reversal.

A Closer Look at DGTL

Digitel has made a huge run up during the last half of December 2007, closing strongly at P1.84 last December 28 coupled with huge volume.

I see that this has formed an inverted head and shoulder pattern which is a bullish signal. The last 2 trading days of 2008 however had DGTL on a downtrend with a low of P1.62 before closing at P1.68. Today's low of P1.62 touched the neckline of the head and shoulder pattern which is now the line of support. My personal target for this is around P2 and if this target is achieved, I see more exciting times ahead for this stock...just look at the bigger picture below...is that heading towards formation of a big cup and handle??? Definitely one stock to watch out for.