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The kids of this generation wouldn’t have a clue on what it was like to play an old fashioned board game such as Snake and Ladders, Game of the Generals and Monopoly. No amount of flashy animation and colourful displays would ever suffice to the thrill and suspense of having to roll a dice which would dictate your next move in the game. Win or lose, the roll of the dice decided your odds.
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Before the week has been concluded last week, we saw a glimpse of bullishness on our market. We saw some technical indicators suggesting a rebound but last Friday’s closing come just a little bit short to 3 digit positive points. Yes it went up as high as 120+ but come short by 8 points from 100. It would have been more convincing if it gave us a large green candlestick.

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Last week we saw a disturbing price action when PSE index plummet last Thrusday. We saw some stocks recovered last Friday but is the storm gone? Let’s see. This week we will be looking at EW, FDC, FLI, MA and PNB for technical bounce. MA as we know it is not a stock we want to hold for a long at this time so if there will be a good price action, better to get away when you have some gains. Greed is not good for this stock. On the other hand, we have heard an old rumor alive again for PNB. This might fuel the price to go up. Let us now take a look at the technical aspect of these 5 stocks.

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JOLLIBEE FOODS CORPORATION

Last week, although there were only 3 trading days, was a good week. Two things happened: window dressing and Investment Grade rating from Fitch. The stocks we picked soared high. JFC (4.74%), PX (2.41%), BDO (2.28%), FGEN (unchanged), AGI (0.24%). This week I think JFC will continue to rise while BDO and SMPH will be picking up the pieces while gaining strength. FGEN may continue to rise but the Doji candlestick is giving some threat to the bulls. We will only have 4 stocks for now.

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