PhilStockAnalysis

PSE Index Chart Analysis for the Week(May 27 to June 2, 2012)

2012-05-27T23:09:00.001+08:00

Figure 1: PSE Index Chart

We had a very boring market last week. I am expecting a possible pullback towards its breakout point but did not materialize. Momentum is still strongly bias sideways to toward direction. Negative thing is the index is now entering the overbought condition which increases the likelihood for our index to continue consolidating/correcting this week. It is better to stay out of the market as long as the RSI resistance is not yet broken.

PSE Index Chart Analysis for the Week(May 20 to 26, 2012)

2012-05-20T20:59:00.000+08:00

Figure 1: PSE Index Chart

Last week the index had broken out from its up channel. Given its extremely oversold condition, I am expecting the index to pullback towards this breakout point. But before that keep watch its key support areas on our chart if it will hold. Its better to stay out/lighten until we see some sort of slowdown on its downward momentum.

RED ALERT: PSE Index Chart Update

2012-05-14T22:39:00.001+08:00

Our index is at critical level right now for a possible breakdown. Today its momentum has completely shifted down and starting to accelerate downward. RSI support was already broken. It is critical for our index to hold at the lower line of the channel else it is on danger of a breakdown. Positive thing, it is already at oversold level which increases the possibility of a market rebound. Will try to see if the support of that channel will hold tomorrow.

PSE Index Chart Analysis for the Week(May 13 to 19, 2012)

2012-05-13T19:11:00.003+08:00

Figure 1: PSE Index Chart

For this coming week, I decided to update my channel line and used a raff regression channel to be able to draw the best channel lines that can clearly show the direction of our index. Base on the current chart, I am expecting our index for some kind of reversal/rebound from being oversold this week. Also the index is located at major support area.

PSE Index Chart Analysis for the Week(May 6 to 12, 2012)

2012-05-06T23:10:00.002+08:00

Figure 1: PSE Index Chart

Last week the index did very well and was able to negate the bearish AB=CD pattern. I am expecting the index early this week to consolidate/correct from being short term overbought. Major support to watch are the 5220 and 5160 level. Momentum is still strongly bias upward. This increases the likelihood of the index to continue moving sideways to up.

Stock Pick: RLC (Inverted Head and Shoulder Pattern)

2012-04-29T22:11:00.002+08:00

Figure 1: RLC Price Chart

RLC is forming an inverted head and shoulder pattern with target of approximately P33.00.

PSE Index Chart Analysis for the Week (April 29 to May 5, 2012)

2012-04-29T21:56:00.000+08:00

Figure 1: PSE Index Chart

I am expecting the index to continue consolidating early in the week. Hopefully the support around 5120-5150 will hold. The bearish AB=CD pattern is still there until the 5267 is broken. Positive thing, momentum is strongly bias upward which increases the probability that the support will hold and the index to continue moving upward.

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

2012-04-22T21:48:00.001+08:00

Figure 1: PSE Index Chart

For this week, I am expecting the index to continue consolidating/correcting. It is now short term overbought and is forming a bearish AB=CD pattern. Good thing is it was able to break its previous resistance and end the week above it. Keep watch of this new support area, a breakdown from this support area will indicate some weakness to our index.

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

2012-04-15T22:07:00.000+08:00

Figure 1: PSE Index Chart

After the double top pattern has failed last week, the index now seems to be consolidating on what seems to be a rectangular box pattern. It needs to break the resistance lines around 5115 to 5150. Its critical for the index to stay above its major trend line support, particularly above the 5000 support area. Else we may be able to see it go down to the box pattern target which is approximately 4840 to 4800. The index is also neither at overbought or oversold area and momentum is presently at neutral zone.

Stock Pick: AGP

2012-04-09T21:32:00.001+08:00

Figure 1: AGP Price Chart

AGP is on a possible cup and handle pattern. Stop loss place below major support (P47.86).

Note: Corporate change of name from "AGP Industrial Corporation (AGP)" to "Asiabest Group International Inc. (ABG)" will take effect on April 10, 2012.

PSE Index Chart Analysis for the Week (April 8 to 14, 2012)

2012-04-09T21:22:00.000+08:00

Figure 1: PSE Index Chart

The index is somewhat forming right now a possible double top pattern that once confirmed will have a possible TP around the 50 MA or to the 4917 area. Keep what on the major support line around 5030, once broken will confirm the pattern. Momentum also has shifted downward last week. On the positive side, the index is now located around a major support line and is now at short term oversold.

Stock Pick: BEL

2012-04-01T21:42:00.000+08:00

Figure 1: BEL Price Chart

BEL is presently forming what looks like an inverted Head and Shoulder pattern with target of approximately P7.40.

PSE Index Chart Analysis for the Week (April 1 to 7, 2012)

2012-04-01T20:07:00.000+08:00

Figure 1: PSE Index Chart

I am expecting the index to retest and try to break the resistance around 4145 this week. This is a critical resistance that the index needs to break in order to proceed higher. If the index can't break this level then we may be seeing a possible early development of a double top formation. I am anticipating a near top for the market given the divergence in price and RSI indicator. Aside from that I am seeing also some weakness with regards to its upward momentum last week.

PSE Index Chart Analysis for the Week ( March 25 to 31, 2012)

2012-03-25T20:31:00.000+08:00

Figure 1: PSE Index Chart

Last week the index, successfully corrected after forming a bearish AB=CD pattern. For this week I am expecting the index to resume its upward movement. My reason for that is the index had formed a bullish tweezer bottom candlestick pattern right at a significant support area which indicates a possible reversal zone. Aside from that the index is also short term oversold which increases the likelihood for a continuation of its upward move. Momentum also have remained strongly bias upward. God bless our trades.

Stock Pick: FDC

2012-03-24T11:48:00.000+08:00

Figure 1: Symmetrical Triangle of FDC

FDC is forming presently a what looks like a symmetrical triangle with short term target of about P5.00. But if FDC will be heavily benefited by the outcome of the IPO for East-West Bank then there will be a possibility that it will overshoot our target a formed a possible harmonic AB=CD pattern with TP of around P5.50 to P6.30. See chart below.

Figure 2: Possible AB=CD pattern

Figure 3: Long Term Chart of FDC

Lastly looking at the long term chart of FDC, I am seeing a possible cup and handle is forming. FDC simply needs to break the rim of the cup (RED diagonal line) and the pattern will be confirmed valid.

PSE Index Chart Analysis for the Week ( March 18 to 24, 2012)

2012-03-18T19:43:00.000+08:00

Figure 1: PSE Index Chart

The index was able to exceptionally performed very well last week and it was also able to finally negate the bearish divergence that we had seen. Momentum has somewhat accelerated upward also. For the coming week I am expecting the index to consolidate for a while as it enters short term overbought area. Presently it is also forming a bearish AB=CD pattern near a trendline resistance. God bless our trades.

PSE Index Chart Analysis for the Week ( March 11 to 17, 2012)

2012-03-11T19:12:00.001+08:00

Figure 1: PSE Index Chart

There is something in the market which I don't like right now. Last Thursday and Friday market action lacks some upward strength. Even though our index is neither at overbought or oversold area right now, the mere sight of the bearish divergence on our chart as indicated by the RSI already gives me an warning sign of a possible market correction. The target of the pennant was also approximately hit last week.

PSE Index Power Rating: 10

Sectoral and Respective Stock Power Ratings:

financial - +7
property - +5
holding - +2
service - +1
mining - +0

Financial:
nrcp - +71
ubp - +51
pse - +50
rcb - +32
secb - +20
bpi - +8

Property:
smph - +23
ali - +6
rlc - +5

Holding:
marc - +33
lihc - +29
ac - +16
aev - +10
sm - +7

service:
pax - +65
gma7 - +29
pal - +19
glo - +12
dfnn - +10
tel - +6

mining:
ni - +353
ov - +152
opm - +52
opmb - +49
ore - +30
geo - +27
apxb - +26
apx - +25
lc - +18
lcb - +18
mab -+15
ma - +12

Hmm.. Where did most of the blues go? Its seems the current upward movement by the index was led by the 2nd and 3rd liners.

Note: Stocks not on the list are under performers and no need for me to show them.

PSE Index Chart Analysis for the Week ( March 3 to 10, 2012)

2012-03-04T22:25:00.000+08:00

Figure 1: PSE Index Chart

Last week the index filled the previous gap and then later on continued to move up. I am expecting the index to continue moving up and consolidate or correct later in the week. God bless our trades.

PSE Index Chart Analysis for the Week (February 26 to March 3, 2012)

2012-02-26T13:29:00.002+08:00

Figure 1: PSE Index Chart

Last Fridays closing shifted the upward momentum of our index to neutral. But as long as the RSI trendline is not broken and the target of the pennant is not hit i am expecting the index to continue moving up. The index is also neither at overbought or oversold area.

Stock Pick: MBT

2012-02-24T10:37:00.000+08:00

Figure 1: MBT Price Chart

MBT is forming a symmetrical triangle with TP of about P105. Fundamental valuation of my broker is at P108. Technical and Fundamental are in sync.

Stock Pick: FPH

2012-02-24T10:29:00.001+08:00

Figure 1: FPH Price Chart

FPH is presently forming a symmetrical triangle with TP of about P80.00. There is also a possible cup and handle forming that once confirmed will make TP of FPH about P108.

Fundamental valuation of my broker (COL) is at P108.20. Both technical and fundamental are in sync.

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

2012-02-20T20:13:00.000+08:00

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

2012-02-12T13:00:00.000+08:00

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)

2012-02-11T21:16:00.000+08:00

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)

2012-02-05T20:10:00.000+08:00

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.