Tuna Breakout?

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.

TUNA Watch

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.

Tuned In For TUNA

Alliance Tuna International. From June of 2007 till mid January of 2008, TUNA had been on a down trend. It's been the opposite ever since and is currently consolidating after its recent high of 2.16 achieved last March 5. A look at the chart shows that it's been forming a bullish inverted head and shoulder pattern. Buy when it breaks out of the neckline (see red horizontal line) coupled with a sharp burst in trading activity. Before it does so, it needs to break its major resistance line as shown by the blue diagonal line. If it does, it would affirm the bullish sentiment for this stock.

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...