The market today closed positively by 34 points but slightly lower from the day's high as profit taking was seen across the board.
Profit taking by major brokerage houses are seen throughout the session in MEG as it closed 1 centavo lower from yesterday's session, closing at 2.46. Seems like they are distributing now. Support should hold somewhere at 2.30 once it makes a correction. Volume today are much higher than last week's advances. Technical indicators are still pointing down so I will not be surprised if it continue to decline this week.
GMAP closed by 2% higher today as ATR seems to be accumulating, while JPMorgan has been a net seller today. I am contented with the confirmation today so I still held on to my position. Technical indicators are pointing up now so it should advance anytime by now.
PX also met strong selling in today session closing 4.79% lower from yesterday, forming a dark cloud cover. Technical indicators are also pointing down. The support at 14.40 should hold. This could provide a place for fund rotation once I get out of GMAP or MEG, whichever reaches their targets first.
Technical indicators are also declining rapidly in AT. 13.46 should provide some solid ground for support.
Still sitting on a 4.29% net paper gain in MEG while sitting on a much lower net paper loss at 6.51% with GMAP.
Tuesday, September 21, 2010
Monday, September 20, 2010
Personal Disclosure
The index closed 74 points higher at 4053, closing 1% higher from the psychological resistance at 4000. I am confident to say that it will continue to move higher this coming days and it might break the psychological resistance by 3% this week.
PX made a gap earlier but some profit taking pushed the stock slightly lower but continued to move higher by mid session as it buyers started to push the price higher, breaking the the next resistance level at 16 by more than 3%, gaining a total of 16.29% in today's session. The risk in comparison to reward is now too high if you didn't get in the 13-14 levels. Next resistance is at 19.50. Buy on weakness.
EDC did what I expected it to do and I am still expecting it to advance in the next few days.
DGTL seemed to formed a buy signal today while RFM continued to move within consolidation range.
MEG seems to be forming a bullish divergence as my trusted technical indicator is pointing down but the price movement is advancing which is also accompanied by high volume.
GMAP looks like it has formed a bullish harami today so I did not sell yet. If the harami is confirmed tomorrow, I will hold. If not, I will sell.
Currently sitting on a 8.28% net loss courtesy of GMAP and 4% net gain courtesy of MEG.
PX made a gap earlier but some profit taking pushed the stock slightly lower but continued to move higher by mid session as it buyers started to push the price higher, breaking the the next resistance level at 16 by more than 3%, gaining a total of 16.29% in today's session. The risk in comparison to reward is now too high if you didn't get in the 13-14 levels. Next resistance is at 19.50. Buy on weakness.
EDC did what I expected it to do and I am still expecting it to advance in the next few days.
DGTL seemed to formed a buy signal today while RFM continued to move within consolidation range.
MEG seems to be forming a bullish divergence as my trusted technical indicator is pointing down but the price movement is advancing which is also accompanied by high volume.
GMAP looks like it has formed a bullish harami today so I did not sell yet. If the harami is confirmed tomorrow, I will hold. If not, I will sell.
Currently sitting on a 8.28% net loss courtesy of GMAP and 4% net gain courtesy of MEG.
Personal Disclosure
Citiseconline finally went back up last Sunday. Anyway, I finally made some possible trades for this week. Hopefully, funds rotate back now to my side of the fence.
Other stocks worth watching this week are EDC and DGTL.
EDC finally broke its major resistance at 5.60 and it reached its recent high at 5.86 before it was sold down the next day as low as 5.49 before closing up at 5.68. I am more inclined to think that the piercing back below the support is not enough as it only pierced old resistance intraday. The recent candlestick formation also looks bullish enough to warrant a buy. However, the trading range to the next resistance at 6.24 level is too tight for me so I don't think I'll be taking a position here.
DGTL also finally broke out of its recent downtrend which was accompanied by high volume. 10-day MA has also crossed above the 50-day MA. I would try to buy as close to 1.48 as possible.
Another stock that I get asked alot is RFM. I believe that RFM will continue to consolidate in the near term. Breaking 2 with high volume will warrant a buy signal with an immediate target of 2.20. Breaking 2 will also point to 2.85 as a possible target in the intermediate to long term. However, if it still doesn't break 2, I am expecting it to consolidate within the range of 1.80-2.00.
I think I finally found out how PAR-SAR actually works.
I think that's about it for now. Monday, here we go!
Caveat.
Other stocks worth watching this week are EDC and DGTL.
EDC finally broke its major resistance at 5.60 and it reached its recent high at 5.86 before it was sold down the next day as low as 5.49 before closing up at 5.68. I am more inclined to think that the piercing back below the support is not enough as it only pierced old resistance intraday. The recent candlestick formation also looks bullish enough to warrant a buy. However, the trading range to the next resistance at 6.24 level is too tight for me so I don't think I'll be taking a position here.
DGTL also finally broke out of its recent downtrend which was accompanied by high volume. 10-day MA has also crossed above the 50-day MA. I would try to buy as close to 1.48 as possible.
Another stock that I get asked alot is RFM. I believe that RFM will continue to consolidate in the near term. Breaking 2 with high volume will warrant a buy signal with an immediate target of 2.20. Breaking 2 will also point to 2.85 as a possible target in the intermediate to long term. However, if it still doesn't break 2, I am expecting it to consolidate within the range of 1.80-2.00.
I think I finally found out how PAR-SAR actually works.
I think that's about it for now. Monday, here we go!
Caveat.
Philex Mining Corp (PX) Update
10-Year Weekly Chart
MACD is moving towards the zero line but it is still trading beneath the zero line.
DMI reading suggests that the recent trend is still gathering momentum.
10-day moving average is still under the 50-day moving average suggesting downtrend in the intermediate term. Uptrend in the long term is still intact as both moving-averages are trading above the 200-day moving average.
Weekly trend is up.
1-Year Daily Chart
After a year-long down trend, PX finally broke out of it last September 2 with relatively high volume. Breakout points to 14.63 as target, 4.5% away from its recent close at 14 and closing above its 200-day moving average at 13.
It now closed at 14 which is its next psychological resistance after breaking 13. A 1-3% break from it should warrant a buy signal. Breaking out would seem imminent as ROC is still pointing to further advance in the near term.
Major resistance at 16 and 20.
***The stock did reached 13 as I have anticipated before. However, I was expecting it to make a correction before heading back up but in the contrary, it simply consolidated before it started to head back up which I did not look into.
MACD is moving towards the zero line but it is still trading beneath the zero line.
DMI reading suggests that the recent trend is still gathering momentum.
10-day moving average is still under the 50-day moving average suggesting downtrend in the intermediate term. Uptrend in the long term is still intact as both moving-averages are trading above the 200-day moving average.
Weekly trend is up.
1-Year Daily Chart
After a year-long down trend, PX finally broke out of it last September 2 with relatively high volume. Breakout points to 14.63 as target, 4.5% away from its recent close at 14 and closing above its 200-day moving average at 13.
It now closed at 14 which is its next psychological resistance after breaking 13. A 1-3% break from it should warrant a buy signal. Breaking out would seem imminent as ROC is still pointing to further advance in the near term.
Major resistance at 16 and 20.
***The stock did reached 13 as I have anticipated before. However, I was expecting it to make a correction before heading back up but in the contrary, it simply consolidated before it started to head back up which I did not look into.
Sunday, September 19, 2010
Atlas Consolidated Mining (AT)
10-Year Weekly Chart
Atlas broke the neckline of its reversed head and shoulder early last week at 12 which was accompanied by exceptionally high volume, pointing at 22.40 as a possible price target. It is now approaching its major resistance at 17 and only 11.63% away from its recent closing at 14.78.
MACD reading is relatively bullish, and DMI reading is also suggesting that current uptrend is relatively strong.
10-day moving average has finally crossed above the 50-day and 200-day moving average confirming the uptrend.
Weekly trend is up.
1-Year Daily Chart
Rate of Change is still pointing up suggesting further advance in the near term.
DMI reading suggests the current trend is relatively strong. Recent new highs are accompanied by heavy volume, confirming the validity of uptrend.
Technical indicators are suggesting that the price is relatively at the peak already in the short term, giving a relatively high risk-low reward if one is to take a position at the current price. However, pullbacks would provide good buying opportunities.
A pullback to 14.42 should provide good entry.
Daily trend is up.
To provide a different point of view:
10-Year Weekly Chart flipped upside-down
Breakdown? Assuming shorting is allowed in our market, will you short this stock with this setup?
Caveat.
Atlas broke the neckline of its reversed head and shoulder early last week at 12 which was accompanied by exceptionally high volume, pointing at 22.40 as a possible price target. It is now approaching its major resistance at 17 and only 11.63% away from its recent closing at 14.78.
MACD reading is relatively bullish, and DMI reading is also suggesting that current uptrend is relatively strong.
10-day moving average has finally crossed above the 50-day and 200-day moving average confirming the uptrend.
Weekly trend is up.
1-Year Daily Chart
Rate of Change is still pointing up suggesting further advance in the near term.
DMI reading suggests the current trend is relatively strong. Recent new highs are accompanied by heavy volume, confirming the validity of uptrend.
Technical indicators are suggesting that the price is relatively at the peak already in the short term, giving a relatively high risk-low reward if one is to take a position at the current price. However, pullbacks would provide good buying opportunities.
A pullback to 14.42 should provide good entry.
Daily trend is up.
To provide a different point of view:
10-Year Weekly Chart flipped upside-down
Breakdown? Assuming shorting is allowed in our market, will you short this stock with this setup?
Caveat.
Rage quit!
Citiseconline is down until now so I can't do anything this weekend. Hopefully they go back up before Monday so I can make plans for next week.
Friday, September 17, 2010
Personal Disclosure
The market today closed by 26 points lower from the 4000 level, closing at 3979. It was basically correction time for most stocks today.
GMAP is still holding up at 7.35 with so much volume traded today courtesy of the big block sales by certain brokerage houses. Are they accumulating or distributing? The verdict is on Monday and I am ready to cut!
MEG seems to be encountering strong resistance at 2.40 slightly breaking above it but not enough as the penetration is less than 3% therefore I am expecting it to correct early next week or it will consolidate for the mean time.
I was right that there would be immediate resistance at 13 but I did not expect it to consolidate instead of making a correction. Anyway, it moved up today, slightly penetrating the next resistance at 14 but not enough to merit a buy. I'll observe how this one will go by Monday.
AT also broke its resistance at 14 by more than 3% today. I saw a buy signal yesterday but I did not took it.
I think PX has better risk-reward in comparison with AT so I am more inclined to buy PX instead of AT. I'll see how both go on Monday.
Which one is the faster horse? GMAP is one sick horse for sure.
Month 2 Day 5
Sitting on a 8.90% net paper loss courtesy of GMAP.
Break-even with MEG.
*I am now also trying to add the triple screening to my system. It is somewhat identical to the basic principles of my system. It is somewhat more defined so I might have gotten the idea from the article subconsciously. Anyway, it still can't solve my problem with spiking movements, from breakouts and consolidation. Maybe I am taking it the wrong way, or it simply cannot work well in this current conditions.
**The probable psychology of a candlestick opening lower the middle band and then closing above the upper band is the buying might have been overdone, thus the succeeding session results in profit taking or indecision. I'll post some charts regarding this.
GMAP is still holding up at 7.35 with so much volume traded today courtesy of the big block sales by certain brokerage houses. Are they accumulating or distributing? The verdict is on Monday and I am ready to cut!
MEG seems to be encountering strong resistance at 2.40 slightly breaking above it but not enough as the penetration is less than 3% therefore I am expecting it to correct early next week or it will consolidate for the mean time.
I was right that there would be immediate resistance at 13 but I did not expect it to consolidate instead of making a correction. Anyway, it moved up today, slightly penetrating the next resistance at 14 but not enough to merit a buy. I'll observe how this one will go by Monday.
AT also broke its resistance at 14 by more than 3% today. I saw a buy signal yesterday but I did not took it.
I think PX has better risk-reward in comparison with AT so I am more inclined to buy PX instead of AT. I'll see how both go on Monday.
Which one is the faster horse? GMAP is one sick horse for sure.
Month 2 Day 5
Sitting on a 8.90% net paper loss courtesy of GMAP.
Break-even with MEG.
*I am now also trying to add the triple screening to my system. It is somewhat identical to the basic principles of my system. It is somewhat more defined so I might have gotten the idea from the article subconsciously. Anyway, it still can't solve my problem with spiking movements, from breakouts and consolidation. Maybe I am taking it the wrong way, or it simply cannot work well in this current conditions.
**The probable psychology of a candlestick opening lower the middle band and then closing above the upper band is the buying might have been overdone, thus the succeeding session results in profit taking or indecision. I'll post some charts regarding this.
Thursday, September 16, 2010
Personal Disclosure
The market decided to climb up again today as it gained another 31.98 points, closing slightly above the new territory at 4005. However, blue chips are left behind as third liners decided to take the reins.
GMAP is struggling as it still closed lower today from the previous day at 7.40. However 7.35 seems to be providing solid support for the mean time. The declining volume with the price decline would appear to me as a bullish indication. I am being bias though so the cut loss point still stands.
MEG continued to climb today contrary to what I was expecting, breaking the huge seller at 2.39 before it was sold down and closing at 2.37. But it's not like I am complaining. I'll be adding more position here once it makes a correction.
After the shooting star that AT formed, it was followed up today with a bullish engulfing, pointing that the 15.62 gap up target valid. FGEN continued to climb today but profit taking ensues, driving the prices down. Immediate support at 13.08.
Month 2 Day 4
Sitting on a 9% paper loss courtesy of GMAP and MEG. Most of the losses are from GMAP as MEG is simply 1 centavo away from break-even.
GMAP is struggling as it still closed lower today from the previous day at 7.40. However 7.35 seems to be providing solid support for the mean time. The declining volume with the price decline would appear to me as a bullish indication. I am being bias though so the cut loss point still stands.
MEG continued to climb today contrary to what I was expecting, breaking the huge seller at 2.39 before it was sold down and closing at 2.37. But it's not like I am complaining. I'll be adding more position here once it makes a correction.
After the shooting star that AT formed, it was followed up today with a bullish engulfing, pointing that the 15.62 gap up target valid. FGEN continued to climb today but profit taking ensues, driving the prices down. Immediate support at 13.08.
Month 2 Day 4
Sitting on a 9% paper loss courtesy of GMAP and MEG. Most of the losses are from GMAP as MEG is simply 1 centavo away from break-even.
Wednesday, September 15, 2010
Personal Disclosure
Well, looks like the market has finally taking a breather as it closed by only 5 points up from yesterday's session.
I was basically watching GMAP the whole time, as I was waiting for it to break 7.35 and cut loss. Luckily it held at 7.35 so I just held on to my position. If I followed my original trading plan here, I could have gotten in today with minimal risk. Anyway, it closed today with a tweezer bottom so I am expecting it to head back up again. I'll cut instead if it goes the other way around.
MEG didn't do much today as it closed at 2.32, .01 centavo lower from yesterday. I am still expecting it to go lower in the next few days.
AT closed with a very ugly shooting star pattern today. Immediate support at 13.26.
FGEN continued to move up as it made a gap today. I'm expecting it to move up again before making a correction.
Hopefully, my candlestick reading today for both position is correct.
Month 2 Day 3
Sitting on a 12% net paper loss from both positions.
I was basically watching GMAP the whole time, as I was waiting for it to break 7.35 and cut loss. Luckily it held at 7.35 so I just held on to my position. If I followed my original trading plan here, I could have gotten in today with minimal risk. Anyway, it closed today with a tweezer bottom so I am expecting it to head back up again. I'll cut instead if it goes the other way around.
MEG didn't do much today as it closed at 2.32, .01 centavo lower from yesterday. I am still expecting it to go lower in the next few days.
AT closed with a very ugly shooting star pattern today. Immediate support at 13.26.
FGEN continued to move up as it made a gap today. I'm expecting it to move up again before making a correction.
Hopefully, my candlestick reading today for both position is correct.
Month 2 Day 3
Sitting on a 12% net paper loss from both positions.
Tuesday, September 14, 2010
Megaworld Corporation (MEG)
Here is the 2-year daily chart of MEG
It broke out of 2-year resistance. With the unfilled gap at 2.15, I doubt that it will go back below 2.
Is MEG a buy with this current condition?
Now, testing something I read before, I am also now trying to see it a new perspective:
Assuming that short-selling is allowed in our market, would you short MEG in this condition?
Caveat.
It broke out of 2-year resistance. With the unfilled gap at 2.15, I doubt that it will go back below 2.
Is MEG a buy with this current condition?
Now, testing something I read before, I am also now trying to see it a new perspective:
Assuming that short-selling is allowed in our market, would you short MEG in this condition?
Caveat.
Personal Disclosure
The market finally started to correct today as it closed 4 points lower from yesterday's session at 3968. I'm expecting the market to decline further for another two days minimum (but it could extend to five days) before heading back up again.
GMAP closed 3.87% lower from yesterday's closing, leaving me with -8.26% net. The gap at 7.45-7.48 was closed today. If price continues to hold at this level, I am convinced that this decline is simply a healthy correction. However, if it continues to drop, I am ready to cut loss. This one currently belongs to my expensive mistakes whenever I decide to do something stupid.
MEG continued to advance today closing at 2.33. Latest candlestick looks very ugly though. 2.23 should provide a good re-entry once it corrects. I am also expecting it to correct for another day or two before heading back up again.
If GMAP doesn't move up and continues to consolidate once it established a support, I will still cut loss and add up my position in MEG. GMAP has time to move up until MEG corrects.
AT and FGEN are the best performers today as they gained 13.26% and 13.06% respectively with exceptional volume.
20% per trade in a bull run seems like a piece of cake. Trade execution is probably my current problem.
I think I would be sitting through the entire second month with my current positions as the commission is killing me. I'll try to swing trades once I open an account with Citisec.
Month 2 Day 2
Sitting on a 8.26% paper loss with GMAP and 3% commission loss with MEG.
Way to start my second month!
Trading plan: Sit tight and get ready to cut the losses!
*Candlesticks that opens below the middle bollinger band and closes outside the upper band suggests peak in the immediate future.
*Tweezers seems to be more reliable when they are in the middle of the trend.
GMAP closed 3.87% lower from yesterday's closing, leaving me with -8.26% net. The gap at 7.45-7.48 was closed today. If price continues to hold at this level, I am convinced that this decline is simply a healthy correction. However, if it continues to drop, I am ready to cut loss. This one currently belongs to my expensive mistakes whenever I decide to do something stupid.
MEG continued to advance today closing at 2.33. Latest candlestick looks very ugly though. 2.23 should provide a good re-entry once it corrects. I am also expecting it to correct for another day or two before heading back up again.
If GMAP doesn't move up and continues to consolidate once it established a support, I will still cut loss and add up my position in MEG. GMAP has time to move up until MEG corrects.
AT and FGEN are the best performers today as they gained 13.26% and 13.06% respectively with exceptional volume.
20% per trade in a bull run seems like a piece of cake. Trade execution is probably my current problem.
I think I would be sitting through the entire second month with my current positions as the commission is killing me. I'll try to swing trades once I open an account with Citisec.
Month 2 Day 2
Sitting on a 8.26% paper loss with GMAP and 3% commission loss with MEG.
Way to start my second month!
Trading plan: Sit tight and get ready to cut the losses!
*Candlesticks that opens below the middle bollinger band and closes outside the upper band suggests peak in the immediate future.
*Tweezers seems to be more reliable when they are in the middle of the trend.
Monday, September 13, 2010
Personal Disclosure
Wow, I am out of words. We are still trading in the green zone after ten trading days, up by 70 points closing today at 3972. Before, everybody was expecting to meet a strong resistance at the previous high.
Foreign buyers are still on buying frenzy today so I decided to jump in too(while holding my breath)!
I bought GMAP earlier today at 7.90 but it closed lower at 7.75, netting 1.89% loss today. The reason I bought GMAP today is to satisfy my father's wish to buy it. Technically though, it looks really ugly in the short term in terms of candlesticks and my other technical indicators. The only indicator that's keeping me relaxed with my current position here is its volume. Increasing volume with ascending price movement. How bad can it go? 10-day moving average has also crossed above 200-day moving average confirming the uptrend. It broke out of its major resistance at 7.70 but it is still struggling to hold up so it still might correct in the immediate future but I am expecting it to hold above the gap up before at 7.48.
I also bought MEG at the end of session at 2.31, which I should have bought earlier. I have no recent analysis for MEG here in my new entries but I have been monitoring and analyzing it while I was holding DMC before. Breaking my personal three-year resistance at 2.15 today with exceptional volume is the reason why I bought MEG. It also made a gap up at 2.15 from 2.13 which should have been enough to merit a buy earlier. It should also provide a strong support once it corrects. I am looking at 2.56 as a possible target in the short term.
Another stock I have been monitoring closely is MPI. It's now about to break out from its ten-year(weekly) down trend at 3.90. If it makes a convincing breakout at 3.90, I am expecting it to close its previous gap down with immediate resistance at 4.40. The probability of breaking out is relatively high because of the multiple moving average crossover.
Keeping a tight trailing stop in the current bull run is probably a mistake that I put up in my trading system. Maybe I should loosen up my trailing stops now?
Tight trailing stops would probably work best in a trending mode with normal pacing.
I still haven't figured out how to trade this crazy market!
Day 1, second month of my trading system.
Trading plan: Sit tight!
Foreign buyers are still on buying frenzy today so I decided to jump in too(while holding my breath)!
I bought GMAP earlier today at 7.90 but it closed lower at 7.75, netting 1.89% loss today. The reason I bought GMAP today is to satisfy my father's wish to buy it. Technically though, it looks really ugly in the short term in terms of candlesticks and my other technical indicators. The only indicator that's keeping me relaxed with my current position here is its volume. Increasing volume with ascending price movement. How bad can it go? 10-day moving average has also crossed above 200-day moving average confirming the uptrend. It broke out of its major resistance at 7.70 but it is still struggling to hold up so it still might correct in the immediate future but I am expecting it to hold above the gap up before at 7.48.
I also bought MEG at the end of session at 2.31, which I should have bought earlier. I have no recent analysis for MEG here in my new entries but I have been monitoring and analyzing it while I was holding DMC before. Breaking my personal three-year resistance at 2.15 today with exceptional volume is the reason why I bought MEG. It also made a gap up at 2.15 from 2.13 which should have been enough to merit a buy earlier. It should also provide a strong support once it corrects. I am looking at 2.56 as a possible target in the short term.
Another stock I have been monitoring closely is MPI. It's now about to break out from its ten-year(weekly) down trend at 3.90. If it makes a convincing breakout at 3.90, I am expecting it to close its previous gap down with immediate resistance at 4.40. The probability of breaking out is relatively high because of the multiple moving average crossover.
Keeping a tight trailing stop in the current bull run is probably a mistake that I put up in my trading system. Maybe I should loosen up my trailing stops now?
Tight trailing stops would probably work best in a trending mode with normal pacing.
I still haven't figured out how to trade this crazy market!
Day 1, second month of my trading system.
Trading plan: Sit tight!
Thursday, September 9, 2010
Personal Disclosure
The index broke out of its previous peak at 3873, closing with 97 points up at 3902, stronger than . People say it's officially a bull run now. So maybe this time, I need to find the faster horse :)
My bid at GMAP didn't get hit today after it met strong selling once it reached 8. I probably should have held on to my position in DMC which I sold last Monday at 24.20 as it still went as high as 26.10 before closing at 25.60.
I observed this week that my new trading system is not fit to trade this market behavior. It is only good in trading trending market in normal pacing so I need to figure out how to trade in this new environment.
Second month for the new trading system. I am hoping for a buying opportunity by Monday or Tuesday.
My bid at GMAP didn't get hit today after it met strong selling once it reached 8. I probably should have held on to my position in DMC which I sold last Monday at 24.20 as it still went as high as 26.10 before closing at 25.60.
I observed this week that my new trading system is not fit to trade this market behavior. It is only good in trading trending market in normal pacing so I need to figure out how to trade in this new environment.
Second month for the new trading system. I am hoping for a buying opportunity by Monday or Tuesday.
Wednesday, September 8, 2010
Personal Disclosure
Asian markets closed in the red zone today and European markets are still trading in the red zone as of this writing. US Futures are also in the red. I wonder how the market will react tomorrow as we still ended up green with 29 points after ALI went back to its normal pricing that sent the market 50 points lower earlier in the session.
Still no trades for today, still waiting for entry points. However, I looked for rotational plays today when my primary trades goes for corrections and I found two possible trades. I will try to study their behavior for the mean time.
BDO continued to trend up for 10 days straight now, gaining 15.80%. I'm surprised by its movement though as I was not expecting it to trend continuously. It might reach 60-62 before correcting back. I am expecting it to consolidate when it corrects.
One-trading day left for the first month of my new trading system.
Still no trades for today, still waiting for entry points. However, I looked for rotational plays today when my primary trades goes for corrections and I found two possible trades. I will try to study their behavior for the mean time.
BDO continued to trend up for 10 days straight now, gaining 15.80%. I'm surprised by its movement though as I was not expecting it to trend continuously. It might reach 60-62 before correcting back. I am expecting it to consolidate when it corrects.
One-trading day left for the first month of my new trading system.
DMCI Holdings (DMC)
Trading Plan
Entry: 23.37 - 22.90 - 22.42
Target: 26.42 - 27.37
Cut loss: 21.84
Gap up at 22 suggests immediate support, pointing at 25.15 as target.
Currently trading at all time high.
Entry: 23.37 - 22.90 - 22.42
Target: 26.42 - 27.37
Cut loss: 21.84
Gap up at 22 suggests immediate support, pointing at 25.15 as target.
Currently trading at all time high.
Metro Pacific Investmenst Corp. (MPI)
Trading plan
Entry: 3.55 - 3.50 - 3.43
Target: 3.94 - 4.06
Cut loss: 3.36
Gap up at 3.62 has been filled. The gap up at this level is possibly an exhaustion gap before correcting.
Gap up at 3.40 suggests immediate support, pointing at 3.82 as target.
Major resistance at 3.80.
Entry: 3.55 - 3.50 - 3.43
Target: 3.94 - 4.06
Cut loss: 3.36
Gap up at 3.62 has been filled. The gap up at this level is possibly an exhaustion gap before correcting.
Gap up at 3.40 suggests immediate support, pointing at 3.82 as target.
Major resistance at 3.80.
GMA Holdings (GMAP)
Initial trading plan
Entry: 6.65 - 7
1% Bounce from entry: 6.71 - 7.07
Break-even: 7.20
Psychological resistance: 7.70 - 8.10
Major resistance: 8.60
Cut loss: 6.40 - 6.76
New trading plan
Entry: 7.30 - 7.08 - 6.93 - 6.76
Target: 8.11 - 8.43
Cut loss: 6.56
Formed a tweezer bottom suggesting an immediate support at 7.30 in the short term.
Gap up support at 6.65, pointing at 8.30 as target.
Entry: 6.65 - 7
1% Bounce from entry: 6.71 - 7.07
Break-even: 7.20
Psychological resistance: 7.70 - 8.10
Major resistance: 8.60
Cut loss: 6.40 - 6.76
New trading plan
Entry: 7.30 - 7.08 - 6.93 - 6.76
Target: 8.11 - 8.43
Cut loss: 6.56
Formed a tweezer bottom suggesting an immediate support at 7.30 in the short term.
Gap up support at 6.65, pointing at 8.30 as target.
Alliance Global Group Inc. (AGI)
Trading Plan
Minor Trend - Short term
Entry points : 7.12 - 6.97 - 6.81
Target: 8.16 - 8.48
Cut loss: 6.65
Intermediate Trend - Medium term
Entry points: 7.06 - 6.88 - 6.70
Target: 8.23 - 8.59
Cut loss: 6.48
Major Trend - Long term
Entry points: 6.79 - 6.52 - 6.25
Target: 8.50 - 9.04
Cut loss: 5.93
Formed a tweezer top suggesting short-term peak.
Gap support at 6.87, pointing at 7.79 as target.
Caveat.
Minor Trend - Short term
Entry points : 7.12 - 6.97 - 6.81
Target: 8.16 - 8.48
Cut loss: 6.65
Intermediate Trend - Medium term
Entry points: 7.06 - 6.88 - 6.70
Target: 8.23 - 8.59
Cut loss: 6.48
Major Trend - Long term
Entry points: 6.79 - 6.52 - 6.25
Target: 8.50 - 9.04
Cut loss: 5.93
Formed a tweezer top suggesting short-term peak.
Gap support at 6.87, pointing at 7.79 as target.
Caveat.
