It has been a good run for San Miguel Corporation “B” (SMCB), publicly listed in the Philippine stock market, since March of 2009 but this week looked even better. Shown in the image, the stock chart of San Miguel, broke out from a double bottom chart pattern (indicated by the 2 red arcs) a few days ago. I set my minium target price at 70-80 pesos per share. Click image to enlarge!
Archives for June 2009
Based on my technical analysis, which among the resistances will manage to hold the Philippine Stock Exchange/PSEi from rapidly increasing its value. Is it the resistance at the 2620 level (lower green dotted horizontal line)? Is it the 2750-2800 resistance (upper green dotted horizontal line)? Or none of them?! Woah, really hard to tell! Click image to enlarge!
In my technical analysis the stock market value of Universal Robina Corporation or URC or even better known as the company who makes C2 green tea, jack and jill chippy, nips, magic flakes and many more is steadily rising after years of downfall. This company listed in the Philippines stock exchange has broken out from the ascending triangle chart pattern (indicated by the red horizontal and diagonal lines) last May 8 as seen in the charts. After it broke out, it made a return move and bounced from its new support (red horizontal line) yesterday. Strategically trading the stock, I would enter it at its current price placing a stop-loss below 7.6 or once it goes below the support line (red horizontal line) with a target price of 9.5-9.8. Click image to enlarge!
From my previous post about Globe Telecom of the Philippine stock market last month, it has just broken out from the ascending triangle chart pattern as for my technical analysis. Now, it’s about to hit my target price of 980 Philippine peso. If the stocks of Globe Telecom (GLO) were bought at 900 pesos per share back in May 15, around 7% profit is made as it closes today at 960. 7% in less than a month isn’t bad at all. Click image to enlarge!
In the 1st picture, a chart of Union Bank of the Philippines dating back from 1996, the stock price has bounced of its 10yr support (violet dotted line). The 2nd picture at a closer view, UBP has broken out of a resistance (green dotted line since January of 2008). 26.5 per share looks like a good buy for UBP but a better bet is when the price breaks out of the cup and handle chart pattern‘s (indicated by the bigger red arc is the cup and and the smaller red arc indicates the handle) resistance line (red horizontal line). Closing above 27 Philippine Peso is my best bet as for my technical analysis! Click image to enlarge!