Let's See MWC

Manila Water. This stock had been on an uptrend for much of 2007 before moving sideways at the start of 2008. It has been consolidating in a triangle and appears to have broken from that formation today when it closed at its high of P18.25. However, volume is still suspect but MACD now oscillating above the zero line. Almost all stocks in the PSE have fallen. Looks like this water is resilient. Water proof?

BKD On My Watchlist

Bankard, Inc. This just caught my attention today because of its ascending triangle pattern. It had a false breakout last May 14 when it hit an intraday high of P1.60. Today, it closed at P1.50. We need to see it break that P1.60 with volume to confirm a breakout from it's pattern. The price is almost at the apex of the triangle pattern so let's see how this fans out. Will attack upon breakout.

What's AP?

Aboitiz Power. This stock has been moving sideways in a triangle formation since its market debut. A look at its chart from March 2008 onwards shows that it's been forming a bullish ascending triangle formation with P5.20 as its resistance. Today's price action saw this stock hitting an intraday high of P5.30 before settling at P5.20. Trading volume has likewise increased over the last 2 months. Can the resistance be broken? Let's watch out. Attack upon breakout!

OVer The Hump?

Did OV break out today? A look at my chart shows that it did break out from an ascending triangle formation. Volume was quite heavy with a turnover of a little over 1 billion shares. Now, we need to see if this run is sustainable. Cut loss if it falls below support which is supposedly now at 0.031. Target price? 0.037.

Today's Top Gainer: VLL

All of a sudden, Vista Land breaks out of the pattern; a bullish descending wedge formation. Just need to see the volume pile up to confirm its breakout. Now on my watchlist.