Trader’s Logbook PSE Stock Picks Weekly from November 12 to 16, 2012

LOPEZ HOLDINGS CORPORATION

I couldn’t see any stock that have a very strong bullish reversal indicator after last week’s trading. Most of them I see either sideways or with bearish bias. If there will be stocks that will shine this week, it will be due to news or technical rebound from the sideways movement. A KICKING PATTERN don’t need a prior market direction. (Before reading on, make sure to read our disclaimer at the bottom of this post).

 

So we will just pick some stocks that has been a favorite from previous days/weeks.

 

Trader’s Logbook PSE Stock Picks Weekly (November 12 – 16, 2012)

 

PSE Stock Picks #1: VITA

VITA‘s week wasn’t a good one. As what we have feared, VITA gave us a confirmation of the previous week’s bearish signal, the Shooting Star. On our weekly chart we can see a red candlestick signifying that it is now reversing to bearish trend. On this week we might see some spikes you may use as fire exit. Even with the White Knight rumor, I think this will still be generally going south as traders have already been tired of waiting. A revival of the rumor may push the price to increase but while its only a rumor, selling pressure will be felt selling pressure will be felt especially those traders who were stuck at high price will be selling their position.

Caveat!

VITA November week 2 2012 Trader’s Logbook PSE Stock Picks Weekly from November 12 to 16, 2012

 

 

PSE Stock Picks #2: APM

Last 3 days of the previous week we saw a possible reversal when Engulfing pattern was seen last Wednesday and Thursday but last Friday, price wasn’t able to surge and it seems it hit a wall at around 0.128

Looking at weekly chart, we have a candlestick with a very long lower shadow but we can not get a general trend. If the price will not gap up on Monday, maybe this will go sideways for a while with a bias going south.

RSI on weekly chart still above 70 but I think it is beginning to loosen up

Caveat!

APM November week 2 2012 Trader’s Logbook PSE Stock Picks Weekly from November 12 to 16, 2012

 

 

PSE Stock Picks #3: DIZ

We have noticed DIZ last week to go up on the early minutes after the opening but never rally until the closing. Additionally, there were only a few trades for DIZ since last week of October and from that week tell last week, it has been cruising at 76.4% Fibonacci Retracement level. I have monitored this stock since last week for a possible technical rebound but didn’t happen. Interestingly we could see on our weekly chart a Falling Wedge formation. Is this near to reversal? A breakout from this wedge with a big volume could mean a whole new chapter for DIZ.

The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. This formation has a bullish bias but can’t be realized until a resistance breakout.

Caveat!

DIZ November week 2 2012 Trader’s Logbook PSE Stock Picks Weekly from November 12 to 16, 2012

 

 

PSE Stock Picks #4: LPZ

Last Thursday’s Bearish Harami Cross on LPZ wasn’t confirmed. It rallied as high as 6.15 and close at its highest. It hits the 52 week high. Our weekly chart shows us that LPZ has broke out from the resistance (now its support) with impressive volume and a buy signal on MACD. Although RSI is above 70, I think there is still room for it to climb. A usual ‘test of newly found support’ may be felt soon.

Caveat!

LPZ November week 2 2012 Trader’s Logbook PSE Stock Picks Weekly from November 12 to 16, 2012

 

 

PSE Stock Picks #5: MEG

MEG‘s weekly chart seems to suggest a bearish bias as we see a rising wedge. As our wedge contracts as seen on our resistance and support line and our last price action tells us that its on the resistance side and may send price down if this wall proves to be strong.

The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. In contrast to symmetrical triangles, which have no definitive slope and no bullish or bearish bias, rising wedges definitely slope up and have a bearish bias.

Caveat!

MEG November week 2 2012 Trader’s Logbook PSE Stock Picks Weekly from November 12 to 16, 2012

 

 

PSE Stock Picks #6: MARC

MARC didn’t move where we want it to be but at least its action is still within our range from last week. Price is still within our falling wedge and if we look at our weekly chart Fibonacci Retracement at two-year time frame we could see a 76.4% Fibonacci Retracement level support at the current price. Is this a strong support or it will easily be broken? The news last week create a very small gap up last Monday but trades were very thin until the end of the week. We didn’t experience a sell on news. This week will be crucial especially on what will happen at the support level.

Caveat!

MARC November week 2 20121 Trader’s Logbook PSE Stock Picks Weekly from November 12 to 16, 2012

 

 

DISCLAIMER: THE MATERIAL CONTAINED IN THIS ARTICLE IS FOR EDUCATIONAL PURPOSES ONLY. UNDER NO CIRCUMSTANCES IS IT TO BE CONSIDERED AS AN OFFER TO SELL OR A SOLICITATION TO BUY ANY SECURITY. WE DO NOT REPRESENT THAT IT IS ACCURATE OR COMPLETE AND IT SHOULD NOT BE RELIED UPON AS SUCH. WE SHALL NOT BE RESPONSIBLE FOR AMENDING, CORRECTING OR UPDATING ANY INFORMATION OR OPINION CONTAINED HEREIN.

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.

2 comments

  1. I’m more struck by the nooitn that the Church should be “modern.” What can that possibly mean?The Church didn’t burn heretics, the secular state did. The church did determine that they were heretics. Of course these were the days when you could be hanged for stealing a loaf of bread. The Church has always been in the forefront of reform such as placing restrictions on the power of nobility to abuse those over which they ruled. It was called chivalry. Before someone can rail against the Church and claim that something modern is an improvement they need to be more specific.Mary Ann nailed the fallacy of the false alternative. The selling of indulgences was also a canard. The indulgences were not sold although certainly they were promoted egregiously and confusion in the minds of the unlearned could produce that impression. Martin Luther made the most of it.The reality is that history has mostly been written by Protestants and distorts the record so that the Church is commonly accused of things that are exaggerations and sometimes bald faced lies. Do some critical research the case begins to fall apart. Almost all the myths about the bad old Catholic Church are exaggerations and distortions promoted by the enemies of the Church. Indeed, most of the carnage down through Christian history has been done by heretics. It’s a matter of record. When there was violence it was Arians attacking the orthodox and chasing out duly ordained bishops like Athanasius.All of these kinds of things were done in the name of the modernism of their day. The Church changes, but only in the sense of acquiring a deeper understanding of the deposit of faith. Accommodating the Zeitgeist is not good change but deterioration. The Church today is a shabby and deteriorated version of the Church of my youth because the laity are not longer schooled and the clergy and bishops have so often failed to live up to their responsibilities. We need a restoration and invigoration of the faith, not more of the spirit of modernism.If that makes me old-fashioned then I will stand with the Church of the Fathers and be old-fashioned rather than stand with the modernists whose agenda is destroying the Church.

  2. Altar girls were rather clealry, based on timing alone, an aspect of militant feminism. It was a move to support the goal of female priests. There seems to be a failure on the part of modern society to recognize the distinction between male and female and to reject all differentiation of separate and proper division of roles between the sexes. Thus we see rampant androgynous claims and the rise in visibility if not in frequency for homosexual roles.The Church has made it clear that women priests were not envisioned in the mind of God. For whatever reason this appears to have been declared. As such then women have no priestly role. Participation in the liturgy on the part of girls and women is certainly to be encouraged, but the acolyte is a minor order on the road to the priesthood. Before Vatican II women could not participate with the priest at the altar although they could serve by reading the responses from beyond the communion rail (I know most of you don’t remember the communion rail but it divided the church into sacred reserved space and general worship space.)The modern Catholic simply has no sense at all of the ancient liturgy. It was steeped in symbolism and tradition and everything carried a sacred meaning which could be explained by someone knowledgeable. We have lost most of that understanding and indeed all the rest of the understanding of the faith so that the modern Catholic is essentially ignorant. This explains why they are so easily converted into Protestants. If you don’t know the faith you are in no position to defend it or defend yourself.

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