Why haven't I been looking at any financial issue? Because this belongs to one of the battered sectors (well, aren't they all battered?) in the financial markets. Almost everyday however, I interact with this company. My ATM, my online stock brokerage, our company's disbursing account, to name a few. So why not take a look and see what this has to offer. This is what I've found. Intermediate trend is still on a down trend. However, since mid March, it has been on a steady climb. From a low of P47.50 last March 18, it went to a recent high of P56.00 registered last April 2-4. It has been slowly going down since then till today's low of P53.00. Looking at the chart, it seems like it has formed a bullish flag. Today's low and close is at the 38.2% retracement. We might see a bounce from this level as shown in several times it hit lows of P53.00 which could be a strong support. I've looked at the MACD at these times and it's been going up at each instance. What I also like is that the MACD line has crossed above the zero line. Volume also increasing. Could it just be taking a pause before it resumes its uptrend? I'll wait till this breaks out of that flag formation. Attack upon breakout!
Showing posts with label BPI. Show all posts
Showing posts with label BPI. Show all posts
Friday, April 18, 2008
My Eye on BPI
Why haven't I been looking at any financial issue? Because this belongs to one of the battered sectors (well, aren't they all battered?) in the financial markets. Almost everyday however, I interact with this company. My ATM, my online stock brokerage, our company's disbursing account, to name a few. So why not take a look and see what this has to offer. This is what I've found. Intermediate trend is still on a down trend. However, since mid March, it has been on a steady climb. From a low of P47.50 last March 18, it went to a recent high of P56.00 registered last April 2-4. It has been slowly going down since then till today's low of P53.00. Looking at the chart, it seems like it has formed a bullish flag. Today's low and close is at the 38.2% retracement. We might see a bounce from this level as shown in several times it hit lows of P53.00 which could be a strong support. I've looked at the MACD at these times and it's been going up at each instance. What I also like is that the MACD line has crossed above the zero line. Volume also increasing. Could it just be taking a pause before it resumes its uptrend? I'll wait till this breaks out of that flag formation. Attack upon breakout!
Monday, January 28, 2008
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.
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