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.

What's Up MA?

Manila Mining has been going into consolidation for quite some time but is now moving near its apex. Let's see how this unfolds.

Leap for Lepanto?

It's a brand new month and a brand new week. Here's a new issue that caught my attention today, Lepanto Consolidated (LC). It seems like it has formed an ascending triangle with resistance around .54. See that volume increasing? MACD is bullish. Stock price is currently above all moving averages. Break out in the offing?