How to trade this market: some support levels to think of

January 25, 2010 By dragon Leave a Comment

Assuming regular correction only (short to medium term):
-These stocks will correct back to uptrendline, and some of the targets are still pretty far off:

*(newly updated in bold)

TEL 2500

AT – macd crossover sell 01/26/2010. S: 10, 8.90
FPH – macd crossover sell 01/26/2010 s:45.0 (still an uptrend if it hits that), break of 45 = 35
EDC – macd crossover sell on 01/26/2010 s:4.50 (still an uptrend if it hits that), break of 4.50 = 4, 4.05

*note. uptrendline supports slant up diagonally by nature, and time and duration to reach trendline may force price variation.

Already broken their uptrendline: in parenthesis (when broken)

AC (September 2009).  Current support 279. If breaks the downtrend channel, then headed to around 250.  Read more... (313 words, estimated 1:15 mins reading time)

Filed Under: Stock Market & Finance Tagged With: , , , , , , , , , , , , , , , , , , , ,

PSE reconstitutes index on November 3

October 22, 2009 By dragon 1 Comment

Starting November 3, the Philippine Stock Exchange Inc. (PSE), which runs the country’s bourse, will include itself in its benchmark 30-company index.

IN: DMC, SECB

OUT: VLL RCB ABS

The announcement “marks the first time the PSE will be included in the main index, joining listed exchanges such as Singapore Exchange, Hong Kong Exchanges and Clearing Ltd. and Australian Securities Exchange, among others, that currently form part of their main stock market indices," the PSE said in a statement.

Together with DMCI Holdings Inc. and Security Bank Corp., the PSE will replace three other companies – Vista Land and Lifescapes, Inc., Rizal Commercial Banking Corp. and ABS-CBN Broadcasting Corporation. – in the bourse’s main index, the PSE said.  Read more... (525 words, estimated 2:06 mins reading time)

Filed Under: Stock Market & Finance Tagged With: , , , , , , , , , , , , , ,

Daily Market Notes Special Index Stocks Chart

August 17, 2009 By dragon 2 Comments

Looking at these selected charts of some index issues, the 2508 or 2620-2626 scenario discussed in our latest daily market notes does seem possible than not.

All of them show clear bearish divergence patterns.  Bearish divergence patterns dictate that price will make a new high, but RSI (or other indicator like MACD or even volume) makes a lower high.

The charts show FPH and MEG with very clear trendline support levels at 34.5 and 1.18 respectively. 

Both AC and ALI hang on precarious support levels as they are already on their trendline levels.  If broken, AC goes to recent low of 265 while ALI may retrace back to 8.1

 

 

 

 

Filed Under: Stock Market & Finance Tagged With: , , , , , , , , , , , , ,