Trader’s Logbook PSE Stocks Worth Watching April 1 – 5, 2013

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.

 

Trader’s Logbook PSE Stocks Worth Watching April 1 – 5, 2013

JOLLIBEE FOODS CORPORATION (JFC)

The break from resistance got a great help from the window dressing and Investment Grade rating on the last day of Philippine trading. Now the price is above the upper slope of the channel and above the 23.6% Fibonacci Retracement level. Most often we see a test of newly found support after the breakout of a stock, will it do the same on JFC? RSI is still below 70. Let’s see how traders react on Monday. I am already on the bandwagon when I saw JFC’s flag

JFC03272013 Trader’s Logbook PSE Stocks Worth Watching April 1 – 5, 2013

 

 

BDO UNIBANK, INC. (BDO)

Checking on the banking sector after the end of the 1Q of 2013 shows that BDO is still a good choice based on my filter. See my post here Review on my Banking sector investment basket

Technically BDO has a bullish bias since the time we saw the Piercing Line on BDO?. Looks like at lot of room to move up as of this time.

Based on my filters and technical attributes of this stock, my plan to hold it for long since September 2012 is still holds true.

BDO03272013 Trader’s Logbook PSE Stocks Worth Watching April 1 – 5, 2013

SM PRIME HOLDINGS, INC. (SMPH)

SMPH still looks attractive compared to its large cap rivals ALI and BEL. You may see my separate post here Review on my Property sector investment basket

On technical side, looking at the daily chart we see a Falling Wedge. Although we see this formation most of the time during downtrend and regarded as reversal pattern, this time we see it at the top of the trend and we call it a continuation pattern. When the falling wedge forms during an uptrend, it usually signals that the trend will resume later on. (http://www.babypips.com/school/wedges.html)

SMPH03272013 Trader’s Logbook PSE Stocks Worth Watching April 1 – 5, 2013

 

 

FIRST GEN CORPORATION (FGEN)

After we posted about FGEN (Close that gap FGEN), it finally closed the gap but at the same time it shows great indecision among the bears and the bulls. The Doji candlestick tells us that price went up and went down but settled near the opening price. Since the indecision appears after it rallied to close to gap, does it mean we will have a dip soon? Will the bulls tired of bringing the price up and would have to rest?

Its better to see what Monday would bring before deciding. Since the Long Legged Doji is a single candlestick pattern, it is better to see confirmation in the form of a move opposite to the prior trade on the next trading day before we can say it really reversed. Absence of the confirmation means reversal failure so price will continue with its current trend.

FGEN03272013 Trader’s Logbook PSE Stocks Worth Watching April 1 – 5, 2013

 

 

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.

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