Last week we watched on ALI (-3.05%), ARA (-9.23%), ANI (0.14%), FGEN (-2.69%) and LC (1.82%). Most of these stocks went down with only LC giving a mere 1.82% gain. Such a red week last week. Our index was down by 2.62% last week. This week I think we will have a good rally for MER, DNL, GTCAP, SMPH. In addition we might be playing PNX and ARA depending on what will be the movement this week.
Trader’s Logbook PSE Stocks Worth Watching March 18 – March 22, 2013
MANILA ELECTRIC COMPANY (MER)
MER‘s ex-date is on March 21. Looking at the history of ex-date cash div dates we have:
3/20/2012 exdate it dropped by 2% but previous day it went up by 4%
8/23/2012 exdate it went up by 4.9% but it has been dropping for 5 days (almost consecutive) before the exdate.
Looks like we don’t have a uniform pattern from the previous two cash div ex-dates?
Looking at what happened last Friday we saw that most of the time in the afternoon it was in red but it turned bullish at 3:20 in the afternoon. From 318 per share it suddenly went up to 330 after ATR KIM cross a few shares followed by other houses. Is it a bullish signal? 51% of the traded volume was done at 330 per share. Looks like bullish to me. This is now our all time high for MER. Is it going to totally break the 330 level and head for 340?
Is this the start of Lighting up MER?
D&L INDUSTRIES, INC. (DNL)
This stock didn’t made much noise last Friday but it didn’t follow other stocks that were going down. As a result it formed a short red candlestick which is a neutral type of candlestick. I think at this point it is still on track with the bounce. Are we going to see a break on resistance before the holy week?
GT CAPITAL HOLDINGS, INC. (GTCAP)
Last Friday we saw the price obeyed GTCAP’s trend. We saw the price went up by 1.32% after it hit the lower slope of the trend. Looks like the vital signs are ok and this may be heading for 800 soon. How strong the resistance? We will see in couple of days.
SM PRIME HOLDINGS, INC. (SMPH)
Last Friday it rose by 2.66% to close at 19.30 per share. 31% of the traded volume was done at this price. The price movement creates a single candlestick pattern called White Closing Marubozu. Will it be the start of the new rise for SMPH? It has been quite a while that this stock has been hovering close to 20-day SMA line. It is also where the 23.6% Fibonacci Retracement level (our support).
PHOENIX PETROLEUM PHILIPPINES (PNX)
The bulls on PNX seemed to start making their appearance. Last Friday we saw some bullish sentiment although there is still some concern among the traders that is why its strength didn’t sustain. This price movement creates a something like a Gravestone Doji. This is a medium reliability pattern so even if there is potential for an upcoming rally, we need confirmation by way of gap up. The larger the gap the stronger the confirmation will be. We may also consider large green candlestick with higher closing price as a confirmation.
ARANETA PROPERTIES, INC. (ARA)
ARA met an accident last Friday as the train it was riding derailed from the track it is suppose to follow. But the injury is not that alarming as now as the train was supported by the 20-day SMA line but passengers are hanging on to their lives and any big movement caused by panic passengers may totally slip the train from the support line and may go down deep. After the lower slope has been compromised we find our last support at 1.70 Next support might be somewhere 1.5 – 1.4 zone.
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