Yo EEI! 1.7 target price achieved!
PHILIPPINE STOCKS: LC (LEPANTO CONSOLIDATED MINING COMPANY “A”) 5-11-2009
The stock was able to achieve its minimum target price of 0.13. Congratulations to those who had it 
PHILIPPINE STOCKS: LC (LEPANTO CONSOLIDATED MINING COMPANY “A”) 5-8-2009
Three current images of LC charts are shown. First chart dates back from the 1980′s, the next is its 4 year chart and the last is a view of a 1 year timeframe. Looking at the bigger picture as seen in the first image, the current price level of LC is almost the same as the 1980′s. It has gone way up and back to where it all started passing thru numerous ups and downs. This was made possible by the terrible financial market conditions. In the second image, the resistance line (green dotted diagonal line) of the downtrend has been broken (price passing through the resistance line) as the price of the stock goes sideways. The last image shows clearly that LC had hopefully reached the bottom from its year of decline as it breaks out from a reversal pattern, the reverse head and shoulders (3 arcs: The head is the biggest red arc and the shoulders are the arcs beside it ). The breakout occured during the Friday session when the price passed through the necline (red horizontal line) despite the US market’s decline the night before. I place my minimum target price at 0.13. Click image to enlarge!
PHILIPPINE STOCKS: EEI (EEI CORPORATION) 5-5-2009
More than two weeks have passed since my last post on EEI and now I’m going to get back to it. EEI has successfully broken out from its reverse head and shoulders formation (3 arcs: The head is the biggest red arc and the shoulders are the arcs beside it) as the stock price passed above its neckline (red horizontal line) last April 20. Are the people who were able to ride its rise profit-take as early as now or will they wait until this stock reaches my minimum target price of 1.7. Click image to enlarge!PHILIPPINE STOCKS: EEI (EEI CORPORATION) 4-19-2009
EEI seems to have been forming a reverse head and shoulders formation (3 arcs: The head is the biggest red arc and the shoulders are the arcs beside it) since October of last year and broke out from its downtrend last month as the price passed above the trend’s resistance line (green dotted line). Are we really seeing a reverse and shoulders formation at present? Will this stock soon ripen and bound for break out? The success of the reverse head and shoulders formation in the charts of EEI will only be confirmed once the price passes above its neckline (red horizontal line) and reaches its immediate target price of 1.7. Click image to enlarge!PHILIPPINE STOCK EXCHANGE INDEX: PSEI 4-12-2009
PSEi, the Philippine Stock Exchange’s main index, has dramatically been falling down for more than a year now along with the global markets. However, we can see from the charts that the year long decline of the PSEi has been reversed last week as the prices emerged above the downrend‘s resistance line (green dotted line). Is this already a reversal or just a rally?! Click image to enlarge!
PHILIPPINE STOCKS: TEL (PHILIPPINE LONG DISTANCE TELEPHONE COMPANY) 10-18-2008
Is it a head and shoulders formation (3 arcs: The head is the biggest red arc and the shoulders are the arcs beside it) that we are seeing in TEL at present? This we don’t know until it breaks down from the neckling (red horizontal line). Click image to enlarge!
US STOCK EXCHANGE INDEX: DJI (DOW JONES INDUSTRIAL AVERAGE) 10-11-08
The Philippine stock market has been in a slump as a reaction to the US financial crisis. DJI, the U.S. market’s major stock index, had been tremendously declining for quite some time now. As we can see in the chart, DJIbroke down from a head and shoulders formation (3 arcs: The head is the biggest red arc and the shoulders are the arcs beside it). It made a rising wedge (emphasized by the 2 short diagonal lines) which bounced from the neckline (longest red line) and easily achievied the minimum target (red dotted vertical line) of 9,500. After a while, it just duck dove all the way to the 8,000 area as a result of continuing bad news on different companies. At present, DJI is around its major support (violet line). If backed up by good news, we might be seeing a rally in the next few days because of the doji-looking 1 day reversal with its latest candlestick (red circle on the 3rd picture). Click image to enlarge!
PHILIPPINE STOCKS: MWC (MANILA WATER COMPANY, INC.) 10-9-2008
A breakout from a symmetrical triangle pattern is more likely to happen if the said pattern is coming from an uptrend and if it is coming from a downtrend it is more likely to go down as explained by technical analysis. From my last post about MWC, it had been true that it was forming a symmetrical triangle (pointed out by the red diagonal lines in the picture) and I was bullish because it came from an uptrend (from 2006-2008) however it went down. This situation doesn’t happen often but in the case of MWC it did as a result of the terrible condition of the global markets. Click image to enlarge!PHILIPPINE STOCKS: GLO (GLOBE TELECOM, INC.) 10-7-2008
The price of GLO is currently standing on its 6 year support (violet line). Is the price going to break the support and go down or is it going to bounce from the support and eventually go up? That we don’t know, it really depends on how the foreign markets and the US economy will fare since the Philippine market just reacts to it. Click image to enlarge!
PHILIPPINE STOCKS: DMC (DMCI HOLDINGS, INC.) 10-3-2008
From the last post about DMC, it had failed to bounce back from its previous support (violet diagonal line). Until when is its price going to stop falling? That we don’t know. As we can see, it’s possible that it can touch any of the incoming support lines (three violet horizontal lines) before it bounces and head up again. We also need to take into account that it can even go way pass the supports (three violet horizontal lines) and drop furthermore. Click image to enlarge!
PHILIPPINE STOCKS: CYBR (CYBER BAY CORPORATION) 9-9-2008
After 8 months of consolidating sideways, the stocks of CYBR convincingly signaled a break of its immediate resistance (topmost red horizontal line) with a long white candle and the huge amount of volume traded today as seen in the chart. The next resistance (horizontal green line) that it should try to respect is at 0.44. Click image to enlarge!PHILIPPINE STOCKS: SMCB (SAN MIGUEL CORPORATION “B”) 9-5-2008
Despite the huge 344 point (2.99%) drop in the US market last night, there are still a chosen few that went up today and that’s the stocks of SMCB. Looking at SMCB‘s 20 year chart in the first picture, it can be seen that it’s consolidating around it’s major support at present. However, can it be said that it’s already bottoming and about to bounce up or is it still going down? That we don’t know but if we look at the shorter timeframe of SMCB‘s chart below the first one, a rectangle can be spotted right away as indicated by the 2 red horizontal lines. The price is consolidating around the resistance (topmost red horizontal line) of the rectangle as of the moment and is possibly trying to breakout from its chart pattern (rectangle). An ideal entry for this is when the price pierces thru its resistance line. And if it does, the immediate target price would be 57.5 if everything goes well. Click image to enlarge!
PHILIPPINE STOCKS: APC (APC GROUP, INC.) 9-4-2008
APC has broken out of the neckline (red line) of its reverse head and shoulders formation with heavy volume. Based on technical analysis the immediate target for this stock is 0.61 and a good cut loss point is when it goes back inside/below the neckline. Click image to enlarge!
PHILIPPINE STOCKS: DMC (DMCI HOLDINGS, INC.) 9-4-2008
The downtrend of DMC for the past months has possibly come to an end since it’s now starting to move sideways out of the resistance line (green line) in the picture. On the other hand, buying the stocks at its current price is also a good strategy because the 4 year support as indicated by the violet line has so far been respected. Once you get into this stock, it’s either you hold until it bounces up or cut when it goes below the support (violet line).
PHILIPPINE STOCKS: ALI (AYALA LAND, INC.) 9-2-2008
ALI is showing signs of a possible reversal from a downtrend to an uptrend by forming a reverse head and shoulders formation as what is seen in the chart. In case the stocks break out from the area pattern, a good entry price for this is 11.5 with a minimum target of 13.5 based on technical analysis. Click image to enlarge!PHILIPPINE STOCKS: MWC (MANILA WATER COMPANY, INC.) 9-2-2008
A nice looking symmetrical triangle for MWC. This will be confirmed once it breaks out of the resistance (topmost red horizontal line) at 18.25 with an initial target of 21. Click image to enlarge!
