PSE Index Chart Analysis for the Week (February 19 to 25, 2012)

Figure 1: PSE Index Chart

 

Sorry guys, I was not able to update my blog over the weekend. I was busy on some family related activity. Anyway, for this week I am expecting the index to hit 5000. Personal short term TP is at 5042. Index also looks toppish and my 2nd indicator is also indicating that market is nearing overbought area. One thing that concerns me right now is that the index somewhat lacks strength when it comes to its upward momentum. Index is moving up while upward momentum somewhat remains flat. There is also a gap around the 4,800 which the index may revisit soon. God bless to our trades.

Stock Update: PX

Figure 1: PX Price Chart

PX was able to find some support along its trendline. The RSI indicator also confirms such support. Price is also at oversold which increases the possibility of a price upward recovery.

PSE Index Chart Analysis for the Week (February 12 to 18, 2012)

 

Figure 1: PSE Index Chart

Last week the index consolidated above its minor resistance line and is presently forming what looks like to be a pennant. Approximate possible target of the pennant is the upper line of the channel. Despite the consolidation/correction of our index, its momentum remained strongly bias upward. RSI is somewhat finding some support at the 60 level. The index also entering the oversold area as indicated by my 2nd indicator above. This increases the likelihood of a continuation of its upward move in the near term.

PSE Index Chart Analysis for the Week (February 5 to 11, 2012)

Figure 1: PSE index chart

Last Friday's closing made our index formed a bearish divergence. Good thing is  momentum has somewhat recovered as is now still accelerating upward. I am expecting our index to continue moving upward and negate that bearish divergence pattern within the week. For me our index still has some room to move up because it is still not overbought and is not also located near the upper line of its price channel. God bless to our trades.

Stock Update: ALI

Figure 1: ALI Price Chart

 

Today ALI broke free from its up and handle pattern. Hopefully it will continue to move up tomorrow and the coming days.

PSE Index Chart Analysis for the Week (January 29 to February 4, 2012)

Figure 1: PSE Index Chart

Early last week the index had shown some weakness. A bearish divergence occurred. Luckily the index was able to find some support right at the 20 moving average line last Friday. It is now at the oversold area and is presently showing a hidden bullish divergence pattern. On the negative side, momentum is starting to accelerate downward. Keep watch this week if the index can recover back its upward momentum else if this continues the index will be in danger of breaking its upward channel. God bless to our trades.

Stock Pick: ALI

Figure 1: ALI Price Chart

 

Here is another stock worth accumulating for position trading. Thanks to dalmacio for pointing out the head and shoulder pattern. TP for that pattern is around P20.50. Aside from that ALI is also forming huge cup and handle pattern with target price of around P32.50. God bless to our trades.

PSE Index Chart Analysis for the Week (January 22 to 28, 2012)

Figure 1: PSE Index Chart

Given its strong momentum and stable upward trend, I am expecting the index to continue moving up this week towards the upper line of the channel. God bless to our trades.

Stock Pick: PX Update

Figure 1: PX Price Chart

Accumulate inside the BUY ZONE area (P19.25 to P22.50). Cut losses when price goes down below P19.25. Key target of PX will be the PRZ for either the bat or crab harmonic pattern. Given the bullish divergence on PX, there is a high probability that its price will soon move up.

PSE Index Chart Analysis for the Week (January 15 to 21, 2012)

Figure 1: PSE Index Chart

Last week our index has exceeded my expectation. Instead of correcting/consolidating to normalize its trend before heading up. Its momentum simply accelerated upward and was able to break both its major trendline resistance and its all time high resistance at 4563. This is a good sign for our market, it simply indicates that bulls have completely taken over the bears. The only drawback for now is that it is now overextended from our 20MA (red colored moving average) which increases the likelihood of a longer consolidation so that the moving average lines can cope up with the index.