This week we will be looking at SMPH which continues to be bullish but have the tendency to retrace. A warning for MCP as it is forming a Rising Wedge and AGI which is currently facing a headwind. In addition, we have PIP which looks interesting after the weak bullish signal and lastly CPG which just rallied last week and still shows bullish sentiment.
The Philippines is right at the forefront of the new world order. Recent figures show the Philippines is one of the hottest markets in Asia right now, exceeding the expectations of many economists and analysts.
In response to the rapid growth of IT and its widespread use in professional and personal environments, a number of fascinating careers have emerged to provide manpower for the sector. Computer forensic specialists are some of the most interesting and most important personnel within the world of IT, filling a key role in criminal investigations related to electronic data.
This week our picks are the following: TA for its possible start of ascend. SECB, MCP, ALI to retrace so we can add more shares to our position. No need to be in a hurry. URC to stabilize its position.
This week we are going to look into AGI which could go up until the resistance level BUT be careful since we have a news about Resorts World operator halves IPO price which might affect the price of AGI. PGOLD on the other hand is breaking the resistance level, talking about the upward channel. For those holding PGOLD, they may hold it for a while until newly found support or a bearish candlestick will appear. Fo those just about to get in, think twice. Third stock to monitor is PIP which is showing indecisive mood on weekly chart after falling big. A test buy near support (refer to weekly chart) would be good. SECB on the other hand is still trying to move past the 140 – 144 resistance zone. I think the bulls will have to rest as it is already exhausted after few days of going up. Lastly, ALI which is slowly coming back from the drop.