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.

Mega No More

Well, it's not just this stock that's battered. Almost, if not all of the PSE's. But sure enough, this came not without a warning. When this broke down from a double top formation early this year (see earlier post), I plotted the target price to be below P1. At that point it's probably hard to believe. But if you follow your technicals, this shouldn't come as a surprise. Today, MEG closed at P0.76, even below the target price and could possibly go down further.

Remember, even Mt. Everest can sink in the Mariana's deep trenches...

MIC My Day

Is this a reversal in the making? Looks like a head and shoulders to me. Watch out for a breakout above the neckline estimated at P3.15. MACD is about to cross the signal line.

Looks bullish to me. Attack upon breakout!

Last of the Lopez Stuck?

I'm looking at various Lopez stocks in MER, FPH, and BPC and all of these has rallied from its recent lows. Looks like FGEN has been left behind. Chart seems to be looking good as it has formed what I see as a bullish descending wedge. Yesterday it traded highly with 4.2 million shares. I'm waiting to see this breakout from this pattern. Buy if it breaks above P28 with volume.

Attack upon breakout Monski!