Trader’s Logbook PSE Stocks Tips to Watch December 10 – 14, 2012
Our analysis this week focuses on 6 stocks that were requested by our friends. These are the following: SMPH, ALI, ABS, GMA7, MICH and VMC.
SM PRIME HOLDINGS, INC. (SMPH)
SMPH after the rally two weeks ago which gave us 7.31%, this week we see SMPH losing steam. After the week’s close it only gave us 1.29% gain. But price still above the upper band of Bollinger Band which suggests that bulls are still not leaving. Although if you see candlestick-wise, a bearish signal can be seen as presented by a Shooting Star. Are we going to see a headwind or price will finally dip more as what we have seen on Wednesday and Friday? RSI on weekly chart is already above 70.
AYALA LAND, INC. (ALI)
ALI last week did a run but not enough to make traders happy. It only gave 2% gain for the whole week. Our weekly trend suggests that price of ALI may correct. Our last candlestick shows that while it is in green, it failed to stay above the upper band.
Let us see how strong our psychological resistance will be which is at 24.
ABS-CBN CORPORATION (ABS)
ABS may go sideways for a while but with a bullish bias as it stayed above the 20 SMA (middle of the Bolinger Band). We have a healthy RSI at 57. I think it is a good time to enter at this level but not all in. Any dip as long as it stays at current level should be a welcomed dip.
GMA NETWORK, INC. (COMMON) (GMA7)
Current price of GMA settles below the 38.2% Fibonacci Retracement level at the week’s close. Last Wednesday we see it peaked at 8.93 where our 38.2% is. RSI at 43.46 tells us that it is not yet overbought. A good rally breaking the 38.2% level could mean a bullish sentiment for this stock.
MANCHESTER INT`L HOLDINGS A (MIH)
MIH is a very risky stock to get in at this time. A possible gap up at the opening but traders may soon panic and sell their position as it. Either this scenario will happen tomorrow or Tuesday so just be careful. For those who bought last Friday and hold on to it you may use the 52-week high rule on this one.
On a new 52-week high, when the market closes at or close to its high on a Friday, buy long and go home long for the weekend. Exit the long position on the opening of the following Tuesday. If the market opens sharply lower on Monday, exit the position immediately.
VICTORIAS MILLING COMPANY, INC (VMC)
Lately have been watching VMC’s movement. It is slowly going north and last week’s move showed move bullish bias as it close above our Bollinger Band’s middle band. There must be a story here as I notice CITISECURITIES and DA MARKET SECURITIES are buying without selling since mid November. PAN ASIA and GOLDSTAR sold only a few on the same time frame. This may go sideways but with bullish bias.
If you’d like your stocks in the next Trader’s Logbook 5 PSE Stocks Analysis Weekly, don’t hesitate to inform us via comment box below.
Thank you for those who requested.
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.