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!