We only have 3 trading days this week so chances are we will not have enough volume to pump the price up. Some traders are already having their vacation. I will have mine starting Tuesday.Last week we have MER which dropped by 4.85%, DNL dropped by 2.45%, GTCAP dropped by 4.16%, and SMPH took a big blow at 5.70%. PNX wasn’t spared by the bears which losses 2.72% It is only ARA (2.26%) that was in green
Our index last week dropped but was able to rebound for the last two days. Without the bounce, we could have gathered bigger losses. Nonetheless, those who were looking opportunity to get in, the drop should have been your opportunity. This week we might get some gains from JFC, PX, BDO, FGEN and AGI.
Trader’s Logbook PSE Stocks Worth Watching March 25 – March 27, 2013
JOLLIBEE FOODS CORPORATION (JFC)
Currently at oversold level, this stock is poised to go up soon but no signal yet from our candlesticks. We do have something to speculate from other indicators. If we look at our chart we see a flag pattern.
The flag pattern forms what looks like a rectangle. The rectangle is formed by two parallel trendlines that act as support and resistance for the price until the price breaks out. In general, the flag will not be perfectly flat but will have its trendlines sloping.
Flags are short-term continuation patterns that mark a small consolidation before the previous move resumes. These patterns are usually preceded by a sharp advance or decline with heavy volume, and mark a mid-point of the move.
PHILEX MINING CORPORATION (PX)
Will the power of the Morning Doji Star continue to support PX and bring it to a higher level on its short term or we will see bears coming back in? Last week we saw the Morning Doji Star (PX on the rebound?) Last Friday there was an attempt to bring the price up but some traders opted to sell. Still there is a bullish sentiment as we observed more than half of the volume are traded above 17.48
BDO UNIBANK, INC. (BDO)
The bulls that created the Piercing Line on BDO has not failed us yet as it close 4.02% last Friday. As we observed last week it touched and bounced at 38.2% Fibonacci Retracement level and is not approaching the 23.6% level. Are we going to see a continuation of its ascend even if we only have 3 trading days this week?
FIRST GEN CORPORATION (FGEN)
We have seen FGEN range trade this past few days. Currently our price is at the high point of the range. Last Thursday we don’t have much participation from the traders and the candlestick turned out a Doji. As we all know this candlestick shows indecision mood between bears and bulls but the next day’s action seemed to put more bias on the bulls. Will the price go up to fill the gap? MACD signals a BUY and RSI is still in a good level.
ALLIANCE GLOBAL GROUP, INC. (AGI)
We are now looking at a low reliability candlestick formation called Harami on AGI at this point. The Harami Pattern is a sign of disparity about the stocks condition. While we saw that it is characterized by downtrend and bears are all over it there was a continuation of the trend however on the last day we see a small green real body that is contained within the prior candlestick. This may signal a trend reversal since the second day’s small real body shows that the bearish power is diminishing.
Then again, this has a low reliability so confirmation is strongly suggested. We need to see a large green candlestick or a large gap up. Will that happen on holy week?
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