Trader’s Logbook Philippines Stock Market Stocks Worth Watching August 12 – 16, 2013

SM PRIME HOLDINGS, INC.

Last week was the start of the Ghost Month. We have seen fewer trades made by traders/investors. still we will be monitoring stocks that may give us some gains this week. These stocks are the following: BDO, TA, LC, MPI and SMPH.

 

BDO UNIBANK, INC. (BDO)

Is BDO about to rebound? Currently the price is holding on at 50% Fibonacci Retracement level which acts as our support. We also notice a BUY signal on our  or RSI and base on previous action on RSI, we saw BDO bounce at this level. Looks like an exciting week for BDO this week.

BDO08092013 Trader’s Logbook Philippines Stock Market Stocks Worth Watching August 12 – 16, 2013

 

 

TRANS-ASIA OIL AND ENERGY DEV (TA)

TA still on track with its Cup and Handle formation. But it is still in a very critical position where a failure could happen. If we look at the weekly chart, we see a Doji candlestick after a long red one. This means traders are in an indecisive mood where they want the price to go. Or is it just Wealth calling the shots?

The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right hand side and the handle is formed. A subsequent breakout from the handle’s trading range signals a continuation of the prior advance. -stockcharts.com

TA08092013 Trader’s Logbook Philippines Stock Market Stocks Worth Watching August 12 – 16, 2013

 

 

LEPANTO CONSOLIDATED MINING A (LC)

Last week have a seen a Shooting Star on LC’s weekly chart and a Bullish Harami on the daily chart. So far the Shooting Star wasn’t confirmed but at the same time there is no convincing confirmation on the bullish indicator. Currently the price is at 23.6% Fibonacci Retracement level and continue to create higher lows which shows that bulls are still taking the shots. I think the bulls will continue to win this week but will take it slowly.

LC08092013 Trader’s Logbook Philippines Stock Market Stocks Worth Watching August 12 – 16, 2013

 

 

METRO PACIFIC INVESTMENTS CORP (MPI)

MPI showed some bullishness on the last two days of trading last week. Creating a higher low on our chart, MPI may test the strong resistance (horizontal line) soon but first it should break the two SMA lines. Our weekly chart is showing a Hammer candlestick on the support line which is a good indicator. I think we can still get some shares at 5.0 early next week.

MPI08092013 Trader’s Logbook Philippines Stock Market Stocks Worth Watching August 12 – 16, 2013

 

 

SM PRIME HOLDINGS, INC. (SMPH)

SMPH is knocking on the 61.8% Fibonacci Retracement level which is our resistance at this point the whole week. Will it finally be broken this week? Interestingly we are seeing a Doji candlestick on our weekly chart after the big drop. This shows that bearish sentiment is dissipating and a reversal may happen. But just be careful because Dojis are not a strong reversal indicator.

SMPH08092013 Trader’s Logbook Philippines Stock Market Stocks Worth Watching August 12 – 16, 2013

 

 

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About Felix Gomez Jr

A computer engineer by profession and loves to develop online systems/websites. A self-thought stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks and Fibonacci retracement levels on his technical analysis but loves to hear some rumors as well.

3 comments

    1. Hey Damian,Not surprisingly, I have had this diucissson several times and your point is certainly a valid one. As a result, I presented two alternative Fibonacci interpretations in .In short, my contention is that the the macroeconomic picture changed so much post-Lehman that it is valid to think of a bifurcated TA landscape as well.I have been ruminating about and writing about a “post-Lehman” world since at least early December and it has become so hard-wired into my thinking that I wanted the charts to reflect that cutoff point.I do think that some Fibonacci analysis decisions are highly discretionary. Ultimately I decide how valid they are based upon how much the support and resistance lines seem to match market behavior. So far, I think the use of the end of September high has held up well and if today turns out to be a top with some staying power, I will stick to the post-Lehman approach. If not, I will have to roll back to an earlier top: Oct ’07, May ’08 or Aug ’08.Thanks for the comments.Cheers,-Bill

    2. Hi Kenny,We have attended a few coeurss before. So far, the one we think helped us the most is Terraseeds. You can also wait for Chris Lori to come to Singapore. His course is also great.One thing to note though is that course fees are usually higher than 2000 dollars.Do check with us more before you attempt to sign up for any coeurss.

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