This week we are banking on BLOOM to continue its ascend, FGEN to be able to bounce after an extended stay at its support line and MEG to bounce from the support line developing a rectangle formation. On the other hand, we want to get CPG if it will go down a bit near its support lines. The same with FLI.
Trader’s Logbook PSE Stocks Worth Watching May 20 – May 24, 2013
BLOOMBERRY RESORTS CORPORATION (BLOOM)
BLOOM made a 4.92% run last week and based on the weekly chart we could see BLOOM is just starting. Daily chart shows the slope and the 50% Fibonacci Retracement level has been helping block the price in going down. BLOOM may try this week to see how strong the resistance at 38.2% will be. Will the flower starts to BLOOM again? Let’s see if 13.50 is easy.
CENTURY PROPERTIES GROUP INC. (CPG)
CPG is on the radar of many traders last week. Last Friday CPG went up by 1.79% but looking at the weekly chart it still have bearish sentiment. Last week I was waiting for it to touch around 23.6% or even further to the lower slope but it didn’t happen. Still near 2.2 or below is an attractive entry point.
FIRST GEN CORPORATION (FGEN)
FGEN is not yet an “abandon ship” as its support line is still trying to hold the price not to go low. Although it has been in an extended time now, there is some bullish sentiment on our weekly chart. But if in case the price will be dragged down south then this might hit the 19 level.
FILINVEST LAND, INC. (FLI)
Few days after we saw FLI trying to break the resistance, it is now flying high. Some may think they need to chase FLI before it will go up further in the coming days but I think we can still get a better price once those who gained will liquidate and price will go near the support zone.
MEGAWORLD CORPORATION (MEG)
MEG went down by 3.10% last Thursday as the bulls retreated to find a good support and it seems they were able to control the bears last Friday. Based on our chart we could see a horizontal channel that MEG’s price is currently moving. Is this going to be the track that MEG will follow? I think those who were able to buy last Friday is in a good position.
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