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?

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.