September 23, 2012
Welcome
“Expect the best. Prepare for the worst. Capitalize On What Comes.” ~ Zig Ziglar
“I do not know what will happen. No one does. But we know what to look for” ~Arthur Cutten
LAST WEEK’S TRADING
Market Retreats From Blue-Chip Breakout
Despite Drop, Upside Momentum Continues
The euphoria of the previous week’s Federal Reserve announcement withered away and we saw the PSE index drop over four consecutive days. This past
Monday’s 0.50% increase was met by selling through the end of the week. The PSE lost 0.57%. The PASHR ended the week virtually unchanged losing
0.01%. Issues on the Trend Analysis list were down by 0.20% on average.
Trading this past week seemed to be negative what with those four down days. There was some technical damage down to the market at least in the short
term as the PSE Daily Chart shows with a close slightly below the Red Short Term Moving Average Line and a Sell Signal being generated on the
Indicator.
The picture on the PASHR Daily Chart is almost identical.
However, in looking at the Weekly Charts, we see that the upside momentum actually continued.
PSE Weekly Chart
PASHR Weekly Chart
The issue that has been leading the market higher, TEL, also led the market down. The TEL Daily Chart shows that TEL gave back all of its gains from the
previous Friday and threatens to return inside its long term range between P2,700 and P2,800.
TEL Daily Chart
However, the TEL Weekly Chart shows an absolutely neutral Buy/Sell Indicator and evidence of slight upside momentum continuing with the Weekly
Trading Range showing a Higher High and a Higher Low.
Here is a summary of the sub index action:
Close
Week Over Week %
Year to Date %
PSE 5,202 -0.57% 21.05%
PASHR 3,50 -0.01% 15.94%
PFINC 1,333 -1.04% 37.64%
PHLDG 4,459 -0.65% 27.29%
PPROP 2,053 1.10% 38.66%
PSERV 1,803 -1.28% 11.55%
PMINI 20,5833 -3.92% -12.43%
The Sub-Index Weekly Charts echo this pattern of slight retracement while maintaining slight upside momentum.
PFINC Weekly Chart has a neutral Buy/Sell indicator and a Weekly Trading Range well above the Red Short Term Moving Average Line.
The same analysis applies to the PHLDG Weekly Chart.
The PPROP Weekly Chart that index carried through to the upside and kept the upside momentum going. However, once again, the Buy/Sell Indicator is
neutral.
Mining issues on the other hand were unable to keep any of the gains from the previous week. However, this was due to PX dropping 6% and PXP
freefalling by 21%.
The PASHR Weekly Reverse Head and Shoulders Chart kept he pattern but went sideways for the first time in two months.
Traders were describing the market as “boring” with good reason. While there were eight issues of the 93 that we follow which were up more than 4%, there
were ten down more than 4%. Volumes continued to be relatively low. While there were several issues that reached 52 week highs this past week,
enthusiasm for the market is weak. We can see that in the performance of the speculative issues. Excitement comes in for a day or two and then the issues
drop on selling and go back to sleep. The market needs follow-through not only on the big stocks, it is also needed on the trading issues.
What we had this past week was a continuation of the trading pattern that has dominated the stock market since the beginning of July.
We then summarize the past week’s trading best by saying “Boring with an upside bias”.
The PSE responded positively to the announcement of more Quantitative Easing from the US Federal Reserve which rallied the global markets. It was “2%”
week with the PSE up 2.33% and the PASHR hitting a new historic high up 2.19%. The fact that the bulk of this increase occurred on Friday does not
diminish the significance of this move. Volumes were actually stronger this past week than the week before and that is always nice to see.
The tight spring uncoiled to the upside.
Here is a summary of the sub index action:
Close
Week Over Week %
Year to Date %
PSE 5,322 2.33% 21.74%
PASHR 3,531 2.19% 15.95%
PFINC 1,348 3.36% 39.09%
PHLDG 4,489 2.79% 28.11%
PPROP 2,031 0.62% 37.15%
PSERV 1,826 3.58% 13.00%
PMINI 21,423 3.42% -8.86%
THE BIGGER PICTURE
STRATEGY SUMMARY
A Pause to Refresh or a Top to Be Worried About?
What I said last week applies again this week; “The strategy for the next few days is very simple; Buy on dips and watch Support carefully.”
I will say again, the longer picture looks very positive for the move to 5,800 and beyond.
I will also say that the short term picture is clouded and unclear. Look at this ALI Daily Chart.
The price breaks to an historic high and the momentum is immediately killed by selling and not a small amount of selling but a wave of selling. It is
somewhat silly to see a stock like ALI go to an historic high and the Buy/Sell indicator is neutral. That does not make sense.
But then we look at the ALI Weekly Chart and the trend is clear for the price to continue to make historic highs over time.
We have a four week uptrend. The Buy/Sell Indicator is rising and becoming stronger which is exactly what we want to see at the start of a long term rally to
the upside.
So why isn’t the market booming forward?
Let’s go back to the basic cycles of stock market investor psychology.
You have seen this before.
What is investor emotional sentiment right now in light of the fact that we have several important issues making new historic highs, the PASHR just reached
a new historic high, and the PSE is within striking distance of that all-time high?
If this was a top, we should all be “Thrilled” if not “Euphoric” but certainly at least “Excited”. But investors are not feeling any of those emotions otherwise
we would not be having the rallies being slammed by selling. So where are we right now?
Because, overall, prices have been flat for several months, I believe investor sentiment is somewhere between “Depression” and “Hope”, probably closer to
“Hope”.
How could we be at the “Hope” phase in the cycle, which is at the beginning of a rally, with the PASHR makes new highs? Here is the PASHR Weekly
Chart with a special strength indicator.
While prices are at a high level, strength is at a low level. And stock market ‘strength’ is determined by how much of your money you are willing to put into
an investment. We do not invest unless we are positive about the future. That positive attitude then becomes market price strength.
He purpose for this discussion it explain why I firmly believe that regardless of any short term disappointments, we are going much higher in the medium to
long term.
This is my justification for buying on dips and accumulating issue that may not look completely favorable right now. So again Buy on dips and watch
Support carefully. We will soon be richly rewarded.
“Patience is bitter; but the fruit is sweet!”
TRADING STOCKS TO WATCH
These are issues that you may want to trade for short term gains.
Remember; do not trade these issues unless there is volume. Do not trade these if they move much below the “Entry Price”.
Issue/Symbol Closing Price Previous
Week Closing Price
Percent Change from
Previous Week
Entry Price Buy No Higher
Than Cut-Loss Below
Price Target Comment
ABA 0.71 0.73 -2.7% 0.70 0.73 0.70 0.85
Watch support and volume carefully as
in descending triangle pattern.
ATN 1.50 1.55 -3.2% 1.65 1.70 1.54 2.00 Position closed on break of Support.
IP 1.02 1.01 1.0% 1.02 1.03 0.99 1.05
Volume building and if volume continues to stay high, price will
move to P1.05.
TREND ANALYSIS
If the “Current Trend” has changed from the previous week, this is indicated by the new trend being underlined and in italics.
Selected Buying issues are highlighted in Blue.
Issue/ Symbol
9/21/2012 Closing
Price
9/14/2012 Closing
Price
Percent Change
Support Resistance Percent Above
Support
Percent Below
Resistance
Current Trend
Target Price if Current Trend
Continues
Trend Comment
Strategy
PASHR All-
Share
3530.34 3530.66 -0.01% 3,460 3,575 2% 1% Neutral/Buying 3,470
Must hold 3,520 or
then targets as low as
3,465.
ABG 21.80 21.00 3.8% 19.50 22.25 11% 2% Neutral/Buying 23.00
Trying to build upside momentum but trend is still neutral.
Wait for confirmed
uptrend for Buying
opportunity.
ABS 33.25 29.00 14.7% 29.50 34.50 11% 4% Buying 36.00
Strong upside
momentum but look for temporary top above
P34.50.
Buying opportunity for move to
P35.00. Watch Support and
volume.
AC 434.00 436.60 -0.6% 426 454 2% 5% Neutral/Selling 450
Needs break/hold of P440 to then target
P460. Potential for short term
move to P420 area.
Buying opportunity for move to P460. Watch Support and
volume.
ACE 1.40 1.50 -6.7% 1.40 1.60 0% 14% Neutral/Buying 1.60
Large volume
spike may signal move higher. But fall below P1.50 is
negative.
Speculative Buying
opportunity for move to
P1.80. Watch Support and
volume.
ACR 1.38 1.34 3.0% 1.35 1.45 2% 5% Neutral/Buying 1.45
Break/hold of P1.36 is positive for
move to P1.47.
Speculative Buying
opportunity for move to
P1.45. Watch Support and
volume.
AEV 48.00 48.95 -1.9% 47.00 50.00 2% 4% Neutral/Buying 50.00
Trying to build upside momentum but needs break/hold of P50 to
then target P55.00.
Wait for confirmed
uptrend for Buying
opportunity.
AGI 13.40 12.94 3.6% 12.36 13.46 8% 0% Buying 14.50
Upside momentum is growing
stronger but watch
volume.
Buying opportunity for move to
P15.00. Watch for top above P13.50. Watch
Support and volume.
ALI 24.00 23.30 3.0% 23.00 25.50 4% 6% Buying 25.50
Continuing to build upside
momentum on higher volume.
Buying opportunity for move to
P27.00. Watch Support and
volume.
ANI 8.55 8.45 1.2% 8.25 8.75 4% 2% Neutral/Buying 8.50
Upside momentum is trying to build but trend is neutral.
No Buying opportunity until upside
trend is confirmed on
higher volume.
AP 33.30 33.75 -1.3% 32.55 35.00 2% 5% Neutral/Selling 33.15
Upside momentum
is lost on lower
volume.
Buying opportunity cancelled on
failure to hold above Moving
Average support.
APC 0.62 0.62 0.0% 0.60 0.65 3% 5% Neutral/Selling 0.60
Failure to break/hold P0.65 is a negative and may signal a
change in trend to the downside.
Very Speculative
Buying opportunity for move to P0.70 but
watch Support and volume.
APO 2.00 2.03 -1.5% 1.88 2.05 6% 2% Neutral/Selling 2.05
Bouncing P2.00 Pivot price area
on increasing
volume. No confirmed
uptrend but building upside
momentum.
Wait for confirmed
uptrend for Buying
opportunity.
APX 4.60 4.65 -1.1% 4.57 5.00 1% 9% Neutral/Selling 4.55
Trying to build upside momentum but volume
very low. May find
bottom at current level.
No Buying opportunity until upside
trend is confirmed on
higher volume.
AR 0.0044 0.0046 -4.3% 0.0042 0.0046 5% 5% Neutral/Selling 0.0042
Must hold current level
or then targets P0.042.
Break of support
cancels Buying opportunity.
AT 17.46 17.44 0.1% 17.10 18.00 2% 3% Neutral/Buying 18.00
Failure to break/hold P17.50 is negative and may
signal downside
trend.
Buying opportunity for move to P18.00 but
watch Support and volume.
BDO 60.90 61.25 -0.6% 59.00 62.50 3% 3% Neutral/Selling 63.00
Needs break/hold of P62 to
then target P64.00. Upside
momentum is
weakening.
Buying opportunity for move to P64.00 but
watch Support and volume.
BEL 4.77 4.80 -0.6% 4.75 5.00 0% 5% Neutral/Selling 4.90
Trying to build upside momentum but volume
is low. Bouncing
P4.80 Pivot price area.
Wait for confirmed
uptrend for Buying
opportunity.
BPI 78.60 77.05 2.0% 72.30 80.00 8% 2% Buying 80.00
Break/hold of P78 is
positive for move to
P80. Good upside
momentum on higher
volume but watch for top above
P78.50.
Buying opportunity for move to P80.00 but
watch Support and volume.
CEB 56.80 59.60 -4.7% 55.00 62.00 3% 9% Selling 54.00 Trend is
now negative.
Failure to hold P59 cancels
Buying opportunity.
CHIB 53.15 56.80 -6.4% 52 56 3% 4% Neutral/Selling 52
Top at P60 area turned
price to negative
trend. Look for bottom at support
area.
Break below support
cancels Buying opportunity.
CMT 2.54 2.44 4.1% 2.33 2.60 8% 2% Neutral/Selling 2.60
Bouncing P2.50 pivot price area
but trying to build
momentum for move to
P2.60.
Very Speculative
Buying opportunity for move to P2.60 but
watch Support and volume.
CPG 1.47 1.50 -2.0% 1.44 1.60 2% 9% Neutral/Selling 1.43
Trend is now going
negative on higher
volume. Needs to
hold current level or then
targets P1.40.
Buying opportunity cancelled on
failure to break/hold
P1.50.
CPM 1.11 1.08 2.8% 1.08 1.16 3% 5% Neutral/Buying 1.16
Upside momentum is growing
stronger but must hold
P1.08. Reached
P1.16 target.
Speculative Buying
opportunity for move to P1.26 but
watch Support and volume.
CYBR 0.80 0.79 1.3% 0.78 0.87 3% 9% Neutral/Buying 0.82
Trying to build upside momentum but volume
is low. Watch for increasing volume to push price
higher.
Wait for confirmed
uptrend for Buying
opportunity.
DIZ 23.95 22.00 8.9% 22.50 25.90 6% 8% Neutral/Buying 25.90
Problem building upside
momentum because of
Selling pressure
above P25.00 but volume is building.
Needs break/hold
of P25.50 to move
higher.
Very Speculative
Buying opportunity for move to
P32.00 because of
good Risk/reward.
Watch Support and
volume.
DMC 58.30 58.05 0.4% 55.50 59.25 5% 2% Neutral/Buying 60.00
Range bound
between P55 and
P60. Needs break/hold of P59 to
then target P60+.
Building upside
momentum.
Speculative Buying
opportunity for move to P60.00 but
watch Support and potential for near term top at P60.00.
EDC 6.07 6.10 -0.5% 5.70 6.25 6% 3% Neutral/Selling 6.20
Failure to break/hold
P6.20 is negative and may signal a trend
change to the
downside. Must hold P6.00 or
then targets P5.80.
Speculative Buying
opportunity for move to P6.30 but
watch Support and potential for near term top at P6.20
area.
EEI 8.08 7.76 4.1% 7.50 8.20 7% 1% Buying 8.25
Break/hold of P8.00 is positive for
move to P8.25.
Speculative Buying
opportunity for move to P8.35 but
watch Support and volume.
ELI 0.83 0.84 -1.2% 0.78 0.85 6% 2% Neutral/Selling 0.82
Trend is neutral on
lower volume.
Price could spike quickly
to the upside if
volume also spikes.
Buying opportunity canceled on
failure to break/hold
P0.85.
EW 21.80 22.00 -0.9% 21.00 24.00 4% 10% Neutral/Selling 21.50
Failure to break/hold
P22 is negative.
Buying opportunity for move to
P25.00. Watch support and
volume.
FDC 4.14 4.10 1.0% 3.85 4.25 7% 3% Neutral/Buying 4.20
Building upside
momentum on higher volume.
Speculative Buying
opportunity for move to
P4.30. Watch volume
carefully.
FGEN 19.02 18.62 2.1% 18.00 19.25 5% 1% Neutral/Buying 19.50
Building upside
momentum on higher
volume for move to
P22. Look for short
term move to P18.70.
Speculative Buying
opportunity for move to P22. Watch
volume carefully.
FLI 1.35 1.33 1.5% 1.30 1.35 4% 0% Buying 1.40
Needs break/hold of P1.35 for
move to P1.42.
Speculative Buying
opportunity for move to
P1.40 because of good
Risk/reward. Watch
Support and volume.
FOOD 1.72 1.60 7.5% 1.66 1.80 3% 5% Neutral/Buying 1.75
Needs break/hold of P1.60 to then target P1.70. But watch for
top at P1.80.
Speculative Buying
opportunity for move to
P1.80. Watch Support and
volume.
FPH 78.30 78.00 0.4% 75.00 80.00 4% 2% Neutral/Selling 80.00
Upside momentum
is getting weaker.
Watch for move to
P77.50 area.
Speculative Buying
opportunity for move to
P83.00. Watch Support and
volume.
GEO 0.59 0.58 1.7% 0.55 0.60 7% 2% Neutral/Buying 0.60
Needs break/hold of P0.61 to then target
P0.68. Building upside
momentum on higher volume.
Speculative Buying
opportunity for move to
P0.68. Watch Support and
volume.
GERI 1.94 1.99 -2.5% 1.90 2.05 2% 6% Neutral/Selling 1.92
Failure to break/hold
P2.00 is negative.
Buying opportunity for move to
P2.20. Watch Support and
volume.
GLO 1,136 1,160 -2.1% 1,090 1,180 4% 4% Neutral/Selling 1,200
Failure to break/hold P1,150 is negative. Needs to
hold P1,125 or then targets P1,105.
Buying opportunity for move to
P1,200. Watch Support and
volume carefully.
GMA7 9.73 9.87 -1.4% 9.60 10.20 1% 5% Neutral/Selling 9.68
Trying to build upside momentum for move to P10.20 but must hold
current level or then targets P9.50.
Very Speculative
Buying opportunity for move to
P11.50. Watch Support and
volume.
GREEN 0.016 0.016 0.0% 0.0150 0.0170 6% 6% Neutral/Selling 0.017
Must see volume follow
through to push price to P0.019.
Speculative Buying
opportunity for move to
P0.020. Watch Support and
volume.
GTCAP 550.00 563.00 -2.3% 540.00 575.00 2% 5% Neutral/Selling 560
Pullback to P550. Watch
for short term move to P540 if volume
decreases.
Buying opportunity for move to
P570 but watch Support
and volume.
ICT 70.00 69.65 0.5% 65.00 72.00 7% 3% Neutral/Buying 72.00
Building upside
momentum but volume must stay
high to move to P74.00.
Speculative Buying
opportunity for move to P74. Watch Support and
volume.
ION 0.63 0.62 1.6% 0.60 0.66 5% 5% Neutral/Buying 0.65
Range bound
between P0.60 and P0.65 but trying to
build upside momentum.
Speculative Buying
opportunity for move to
P0.70. Watch Support and
volume.
ISM 2.96 2.99 -1.0% 2.91 3.05 2% 3% Selling 2.90 Trend is
negative.
No Buying opportunity until trend
turns to the upside.
JFC 100.00 101.40 -1.4% 97.25 102.50 3% 3% Neutral/Selling 105.00
Failure to break/hold
P104 is negative.
Speculative Buying
opportunity for move to
P107.
JGS 33.95 34.20 -0.7% 32.50 35.00 4% 3% Neutral/Buying 36.00
Needs break/hold of P34 and
more volume to
then target P36.
Speculative Buying
opportunity for move to
P36.
LC 1.19 1.25 -4.8% 1.16 1.28 3% 8% Neutral/Selling 1.30
Failure to hold P1.20 is negative but
higher volume will push price
higher.
Break below support
cancels buying opportunity.
LIHC 1.06 1.05 1.0% 1.01 1.14 5% 8% Neutral/Buying 1.10
Needs break/hold of P1.10 on increased volume to
then target P1.25.
Trying to build upside momentum.
Speculative Buying
opportunity for move to
P1.27. Watch Support and needs more
volume.
LPZ 5.47 5.33 2.6% 5.35 5.60 2% 2% Neutral/Buying 5.50
Trend is positive but
upside momentum
is weakening
as price moves to
P5.60.
Speculative Buying
opportunity for move to
P5.80. Watch Support and for potential
top above P5.60.
LR 7.65 7.59 0.8% 7.25 7.75 5% 1% Neutral/Buying 7.55
Upside momentum weakens as price moves
above P7.75. Look for potential pullback to
P7.50.
Very Speculative
Buying opportunity for move to
P7.75. Watch Support and needs more
volume.
LRI/RCM 9.35 9.48 -1.4% 9.00 9.50 4% 2% Neutral/Selling 9.50
Range bound
between P9.00/9.50 but getting
for a breakout
probably to the upside
because volume is growing.
Speculative Buying
opportunity for move to
P10.00. Watch Support and needs more
volume.
MA 0.060 0.062 -3.2% 0.059 0.065 2% 8% Neutral/Selling 0.064
Needs break/hold
of P0.063 to then target P0.065 and
higher. Trend is
starting to turn
negative. Must hold
P0.60.
Speculative Buying
opportunity for move to
P0.065. Watch Support and
needs volume to remain
high.
MARC 2.27 2.28 -0.4% 2.25 2.50 1% 10% Neutral/Selling 2.25
Range bound
between P2.30/2.40
but trying to build upside momentum.
Speculative Buying
opportunity for move to P2.40 but must have increasing volume.
MBT 91.00 93.75 -2.9% 88.35 95.90 3% 5% Selling 95.00
Range bound
between P90/95. Trend is turning
negative on failure to
break/hold P95. Needs break/hold of P95 to
then target P100.
Buying opportunity cancelled on
failure to hold P93.
MEG 2.21 2.24 -1.3% 2.15 2.28 3% 3% Selling 2.20
Failure to break/hold
P2.25 is negative. Trend is
now downward for move to
below P2.20.
Buying opportunity cancelled on
failure to break/hold
P2.28.
MER 261.20 259.00 0.8% 255 265 2% 1% Buying 270.00
Building good upside momentum
for move above P275.
Volume must stay high and
must hold P250.
Buying opportunity for move to
P273 but must have
increasing volume.
MPI 4.11 4.21 -2.4% 4.05 4.20 1% 2% Selling 4.07
Failure to hold P4.20 is
negative and trend is weakening. But will find bottom in
P4.05 area.
Buying opportunity cancelled on
failure to hold P4.20.
MWC 26.80 27.00 -0.7% 26.20 28.00 2% 4% Selling 26.20
Trend is turning
negative on failure to
break/hold P28.
Very Speculative
Buying opportunity for move to
P30 but watch Support and
volume.
NI 8.08 7.30 10.7% 7.85 8.30 3% 3% Buying 8.50
Reached upside
target of P8.00 and
now targets P8.80 if volume
increases. Watch for
top at P8.75 area. Needs
to hold P8.00 area.
Speculative Buying
opportunity for move to P8.70 but
watch Support and volume.
NIKL 18.12 18.40 -1.5% 17.80 18.75 2% 3% Neutral/Selling 18.00
Must hold P18. Trend is turning negative.
Speculative Buying
opportunity for move to
P20 but watch Support and
volume.
ORE 4.83 4.53 6.6% 4.60 5.00 5% 4% Buying 5.00
Building upside
momentum for move to
P5.25 if volume
increases. Must hold
P4.75.
Very Speculative
Buying opportunity for move to P5.25. But
watch Support and volume.
OV 0.049 0.052 -5.8% 0.048 0.055 2% 12% Selling 0.047
Failure to hold P0.05 is
negative and may
signal trend change to
the downside.
Buying opportunity cancelled on
failure to hold P0.05.
PAL 7.39 7.54 -2.0% 7.15 7.60 3% 3% Selling 7.20
Failure to hold P7.50
changes trend to the downside.
Buying opportunity cancelled on
failure to hold support.
PAX 2.76 2.89 -4.5% 2.75 3.06 0% 11% Neutral/Selling 2.68
Failure to hold P2.85
changes trend to the downside.
Buying opportunity cancelled on
failure to hold P2.85.
PCOR 10.26 10.60 -3.2% 9.70 10.75 5% 5% Neutral/Selling 10.00
Failure to hold P10.50 is negative and may signal a trend
change to the
downside.
Buying opportunity cancelled on
failure to hold P10.45.
PGOLD 30.00 30.10 -0.3% 28.75 31.00 4% 3% Neutral/Buying 32.00
Upside momentum is good but needs more volume for
move above P32.00.
Must hold P29.50.
Buying opportunity
for break above P32.00
but watch Support and
volume.
PNB 70.70 70.00 1.0% 67.00 73.00 5% 3% Buying 72.00
Trying to build upside momentum but upside limited to P75.00.
Volume is building.
Buying opportunity
for break above P75.00
but watch Support and
volume.
PNX 8.15 8.19 -0.5% 8.00 8.60 2% 6% Neutral/Buying 8.50
Trying to build upside momentum but needs break/hold of P8.50 on
higher volume. Range bound
between P8/8.25.
Speculative buying
opportunity for move to
P8.50. May go up quickly on volume spike.
PX 14.82 15.78 -6.1% 14.00 16.00 6% 8% Selling 14.50
Failure to break/hold P16 turns
trend to the downside.
Buying opportunity cancelled on
failure to hold P15.
PXP 25.75 32.90 -21.7% 24.25 28.00 6% 9% Selling 24.80
Failure to hold P31 is negative.
But may find bottom at
P24.50 area.
No Buying opportunity until trend
turns to the upside.
RCB 44.50 43.45 2.4% 41.80 45.50 6% 2% Neutral/Buying 46.00
Range bound
between P42 and
P45. Break/hold
of P44 is positive for move above
P48 but needs
increasing volume.
Speculative buying
opportunity for move
above P48. May go up quickly on
volume spike.
RFM 3.95 4.02 -1.7% 3.90 4.15 1% 5% Neutral/Buying 4.00
Bottom at P4 area is strong and trying to
build upside momentum. Must hold
P3.90.
Wait for confirmed
uptrend for Buying
opportunity. But if volume
quickly increases,
price will go higher.
RLC 18.18 18.44 -1.4% 17.50 19.00 4% 5% Neutral/Selling 18.00
Range bound
between P18/19. Trying to
build upside momentum but needs break/hold
of P18.50 to then target
P19.30.
Wait for confirmed
uptrend for Buying
opportunity. But if volume increases over several days, price will go
higher.
SCC 220.00 224.20 -1.9% 215 231 2% 5% Neutral/Selling 218
Needs break/hold of P225 to then target P232. Must hold P220
area or trend will
turn negative.
Very Speculative
Buying opportunity for move to
P240 but watch Support
and volume.
SECB 158.30 163.60 -3.2% 155 170 2% 7% Neutral/Selling 154
Failure to break/hold
P160 is negative and may signal a trend
reversal to the
downside.
Speculative buying
opportunity for break
above P170 but watch
Support and volume.
SGI 2.00 2.05 -2.4% 1.85 2.15 8% 8% Neutral/Selling 1.80
Downside momentum is starting to
grow. But may find a bottom at
P2.00.
No Buying opportunity until trend
turns to the upside.
SINO 0.320 0.315 1.6% 0.30 0.32 6% 0% Neutral/Buying 0.33
Trend is neutral and
may find bottom at
current level.
No Buying opportunity until trend
turns to the upside.
SLI 0.67 0.70 -4.3% 0.66 0.72 1% 7% Neutral/Selling 0.65
Failure to break/hold
P0.70 is negative and may
signal trend reversal to
the downside.
Buying opportunity cancelled on
failure to hold P0.70.
SM 727.50 736.00 -1.2% 722 750 1% 3% Neutral/Selling 720
Failure to break/hold
P750 is negative. Must hold
P720 or then targets
P708.
Buying opportunity cancelled on
failure to hold P730.
SMC 110.80 111.70 -0.8% 110 116 1% 4% Neutral/Selling 110 Trend is slightly
negative.
Wait for confirmed
uptrend for Buying
opportunity. Risk/Reward is not favorable.
SMDC 6.03 6.14 -1.8% 6.00 6.40 0% 6% Neutral/Selling 6.00
Price is range bound
between P6.00/P6.20.
Must hold P6.00 or
then targets P5.85.
Wait for confirmed
uptrend for Buying
opportunity. Risk/Reward is not favorable.
SMPH 13.82 13.94 -0.9% 13.50 14.60 2% 6% Neutral/Selling 14.50
Pivot price is P14.00 area.
Must hold P13.75 or
then targets P13.40.
Buying opportunity cancelled on
failure to break/hold
P14.
STR 3.95 3.97 -0.5% 3.85 4.05 3% 3% Neutral/Selling 4.15
Upside momentum
is weakening
on failure to break/hold
P4.00.
Buying opportunity cancelled on
failure to break/hold P4.
SUN 0.51 0.51 0.0% 0.51 0.58 0% 14%
Trend is neutral and
range bound between
P0.50/0.55.
Wait for confirmed
uptrend for Buying
opportunity. Risk/Reward
is not favorable.
Trend is neutral and
range bound between
P0.50/0.55.
Wait for confirmed
uptrend for Buying
opportunity. Risk/Reward is not favorable.
T 2.17 2.19 -0.9% 2.00 2.20 8% 1% Neutral/Buying 2.15
Break/hold of P2.20
would signal upside
momentum if volume increases.
Wait for confirmed
uptrend for Buying
opportunity. Risk/Reward is not favorable.
TA 1.19 1.17 1.7% 1.15 1.20 3% 1% Neutral/Buying 1.22
Needs break/hold of P1.20 to
signal upside
momentum.
Wait for confirmed
uptrend for Buying
opportunity. Risk/Reward is not favorable.
TEL 2,810 2,870 -2.1% 2,777 2,925 1% 4% Neutral/Selling 2,900
Failure to break/hold P2,900 is negative. Must hold P2,800 or
then targets P2,760.
Buying opportunity cancelled on
failure to break/hold
P2,900.
UBP 104.50 103.90 0.6% 101.00 106.00 3% 1% Neutral/Selling 105.00
Pivot price area is P105.
Failure to break/hold P106 turns
trend slightly
negative. Needs more
volume.
Buy on break/hold of P105 to then
target P110/115/120.
Good speculative
play if broad market and
PFINC continues to
go higher. Watch
volume.
URC 63.95 62.50 2.3% 60.00 65.00 6% 2% Neutral/Buying 67.00
Building upside
momentum on higher volume. Needs
break/hold of P65 to
then target P70.
Speculative Buying
opportunities for move to P70.00 but
watch Support and volume
very carefully.
VLL 4.90 4.51 8.6% 4.70 5.15 4% 5% Neutral/Selling 5.25
Strong upside
momentum with
break/hold of P4.50. Volume
must remain high to target P5.25.
Speculative Buying
opportunities for move to P5.25 but
watch Support and volume
very carefully.
VUL 0.92 0.92 0.0% 0.90 0.95 2% 3% Neutral/Selling 0.90
Trend is neutral with
slight downside
bias on low volume.
No Buying opportunity until trend
turns to the upside.
WEB 16.98 17.00 -0.1% 15.50 17.25 9% 2% Selling 16.50
Strong top at P17.00 may cause downside reversal.
No Buying opportunity
until Resistance at
P17.00 is taken out.
PSEi 5292.06 5322.47 -0.57% 5,280 5,400 0% 2% Neutral/Selling 5,220
Must hold current level
or then targets 5,220.
Disclaimer:
Mangun on Markets is a private subscription e-newsletter prepared and published by John Mangun. It is a technical analysis of the Philippine Stock Market
and individual stocks traded on the Philippine Stock Exchange. It is strictly a personal analysis of technical aspects of the markets and not individual
investment advice to its subscribers. The information publish is based on my opinion and interpretation of data publicly available. Although I make every
effort to provide the most accurate and updated information possible, information cannot take into consideration your personal finances and goals, and
therefore it is not intended to be used as customized recommendation to buy, hold, or sell securities, or engage in any trading strategy. Any investment
recommendation may, only be made by a personal advisor or the broker of your choice.
Notwithstanding any other agreement or other communications between John Mangun and Subscriber to the contrary, receipt or use of any material provided
by John Mangun, at any time and through any means,
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