Riding with the Bulls

Charts of companies' stock performance after their presentation with Citiseconline last October 27:



It would seem that AGI was the best performer after their presentation.

However:



A 6-month comparison shows that DMC has been outperforming the other issues, only seconded by AGI while the other two MPI and ICT were severely underperforming.

With that being said, I am more inclined to buy the stronger issue/s which are DMC and AGI.

RFM CORPORATION (RFM)

10-Year Daily Chart



RFM has finally taken out its major resistance P2 today with exceptional volume after consolidating in more than two weeks, suggesting the resumption of its uptrend in the intermediate term.

The resumption of the uptrend is pointing out at 2.85 as target in intermediate term.

However, current uptrend would seem to be advancing in a slightly lower pacing from its previous advances as pointed out by the fan lines.

6-Month Daily Chart



It has also broke out of its ascending triangle pattern today, pointing out at 2.27 as an immediate target.

There are still no signs of danger appearing on its weekly chart.

I am trying to be careful in trading break outs, specially when it is their first so I would be still on the sidelines here as it deemed to be much safer to wait for a pull back. I also set a rule in my system to sell the first break out and buy the second one so today should have been a sell IF I had a position.

A pull back to P2 should provide a good buying opportunity, or as close as possible. If it would be possible, below P2 should also provide good bargains.

RFM is also highly obedient of its trend/support line.

Short Term Target: 2.27
Intermediate Term Target: 2.85
Immediate Support: 2

Personal Disclosure

The market continued to advance further in today's session, gaining another 40 points, closing at 4381 today, higher by 0.92% from yesterday's closing. Major index contributors today are SCC up by 6.23%, VLL up by 6.06%, SMC up by 4.88%, and MBT up by 3.94%. Major losers today are FGEN down by 3.43% and CEB down by 3.39%. CEB is now down by 4.16% from its IPO price.

The market is now seem to resume its uptrend after consolidating for four weeks as MACD is now slowly turning up.

Riding with the bulls is now being led by AGI +10.24%, ICT +9.4%, DMC +9.31% and MPI +7.81% after they played catch-up with DMC after their presentation with Citisec.

AP continued its corrective consolidation today closing at 27.95, higher by 0.18% only from yesterday's closing. Rate of change are looking to turn up that might indicate the resumption of uptrend although it could still end up flat on tomorrow's session. Uptrend might resume from late this week to early next week.

DMC continued to advance today despite of its declining rate of change, indicating bearish divergence with the indicator. The latest divergence that I saw within my watch list was from MEG which resulted into sideways movement for about two weeks before it started to head back up. So there are now two things that are needing attention: divergence in price to volume and divergence in price to rate of change.

Or it could simply move in a boxed pattern.

AEV gave off a buy signal today. A strong opening tomorrow should confirm the buy signal although it still has to sustain its strength upon closing.

Amongst the five stock that I put up in my watch list yesterday, Atlas seems to be the most attractive stock to buy as it's the one that have fallen the most in terms of rate of change. Coincidentally, its price today closed at 61.80% fibonacci retracement level.

RFM has finally woken up from its more than two weeks of consolidation, taking out the heavy resistance at 2 today with exceptional volume, reaching a high of 2.12 before closing at 2.06. Target in the current uptrend in the medium term is now at 2.85. I'm trying to be careful now with stocks behaving like this so I'll wait for a correction for the mean time before taking a position here. Expect the previous resistance at 2 to provide support when it pulls back and it should also provide a good buying window. I'll be posting its chart later today.

AP is currently up by 3.26% in nine trading days. Doubled my position in AP.
DMC is currently up by 8.42% in six trading days.

*AT is looking attractive at current conditions so I am thinking of dropping DMC for it. If AT opens strongly tomorrow and sustains it, closing above the 10SMA, I'll buy it and will drop DMC. Much better if DMC surges up by 5%. If it does more than that, I'm just going to hold onto it.

So much for following your plans.