Last week we were looking at BPI (2.80%), DNL (1.33%), EEI (3.02%), PAX (3.26%) and ALI (-1.11%) ALI could have been the biggest gainer if not because of the top up placement that happened on the night of Wednesday. But I don’t worry about ALI because it is one of the fundamentally good company. In fact I am looking for a bounce this week for ALI. In addition, I will be watching ARA, ANI, FGEN and LC.
Trader’s Logbook PSE Stocks Worth Watching March 11 – March 15, 2013
AYALA LAND, INC. (ALI)
Last March 3 we Wait for ALI to touch within support zone and sure it did then it bounce BUT the bounce last March 5 and 6 was immediately countered by a dip on March 7 following the disclosure of a top up placement of ALI common shares http://www.pse.com.ph/resource/disclosures/2013/pdf/dc2013-2035_ALI.pdf at a discounted price of 30.50 per share. This result to a sell down for the rest of the week.
The price of ALI is back to its 20-day SMA. Will it bounce? I think there is a great chance it will.
ARANETA PROPERTIES, INC. (ARA)
An update from ARA‘s chart shows that it is approaching its lower slope. Last Friday it went up as high as 2.03 but retraces and settled for 1.95 which gives a loss to some traders who was very eager to join ARA‘s bandwagon. Upward trend is still intact for ARA but I think there is no need to hurry. Will there be a take off in the middle of the week?
AGRINURTURE, INCORPORATED (ANI)
For those ANI fans or ANIpits, ANI has been silent for quite sometime now. For a few weeks it has been following the lower band of Bollinger Band until recently when it moved sideways. There are a couple of times we have seen this scenario so just be on the look out for possible momentum play.
If we look at its weekly chart we could see a Gravestone Doji. This pattern if seen at the bottom of the downtrend may signal a reversal. The story behind this candlestick is that after the bears conquer this stock for quite sometime, we have see the bulls trying to comeback but their strength wasn’t enough to drive the bears away. But since this is just the first attempt for the bulls, they might come back to win the game this time.
FIRST GEN CORPORATION (FGEN)
Speculating a rally to close the gap soon for FGEN. The last 6 candlesticks seemed to draw a resistance line that bulls have a hard time breaking but at the same time we see higher lows which could translate to bulls putting pressure to resistance level.
LEPANTO CONSOLIDATED MINING A (LC)
Are having a Rectangle Formation on LC? It looks like. But at this stage we are in a risky situation if in case it turns sour but a good reward if it will bounce and break the resistance. Current price is at the support line and we can also see a bullish bias brought by Gravestone Doji. This pattern if seen at the bottom of the downtrend may signal a reversal. The story behind this candlestick is that after the bears conquer this stock for quite sometime, we have see the bulls trying to comeback but their strength wasn’t enough to drive the bears away. But since this is just the first attempt for the bulls, they might come back to win the game this time.
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