Archive for May, 2009
Try as it might, the DJIA just can’t seem to get out of its funk.
For the past two weeks, the index has been trying to bring itself above 8500. It has been reaching that and higher levels but just can’t seem to move away from the area due to the resistance line that we saw. [...]
The PSEi is looking good since it already rose above the resistance at 2342. But the index is not out of the woods yet.
Should the index close the gap at 2415, then maybe we would have more reason to be bullish. But until then, we are to consider that area to be a resistance for [...]
First of all I would like to congratulate all the traders who made this trade. You should now be enjoying at least 20% profit.
Click here for the original trade idea.
I posted the trade idea last May 11th. After a few days PX broke out of its trading range and on the 26th our target has [...]
There is still weakness in the DJIA, as shown in the chart, when it couldn’t surpass the shorter term resistance at 8600. It has corrected from there and we are probably seeing a continuation of the consolidation.
The 50-day moving average is poised to cross above the 100MA giving us some sense of bullishness. However, the [...]
After making a sustained rise since mid-March, the PSEi has hit the resistance at 2342. At that level, we saw the index gap down in October from higher levels.
The 65-day moving average is above the 130MA at this point, but the index still lacks momentum to push itself higher. It may now be above the [...]
Another issue has caught our attention by forming a major reversal pattern.
FPH has been going sideways since June 2008 and has formed what we think is a cup & handle. The cup started on August 2008 and ended March of this year. Right after that, a symmetrical triangle, which serves as the handle, also formed. [...]
Update: GLO (Globe Telecoms)
Please click here for the original trade idea.
We have waited long enough for this trade to open.
Our original trade plan was to buy at 700, but did not push through. I know some of you might think that the buying price for GLO is absurd. Well, back in March the market wasn’t [...]
The good news is that the resistance line created since December 2007 (thick, broken line) has been surpassed by the PSEi on April. So it is now safe to presume that this trend is already finished. However, the longer resistance since October 2007 is still intact, so we have to assume that the general trend [...]
After hitting a high of 8657, the DJIA has corrected, nearing the 100-day moving average at 7932.
There is still this lingering feeling that the index is undergoing some consolidation that is readying itself up for a reversal.
The 50MA racing towards the 100MA is one indication. It’s becoming more bullish as the DJIA progresses. The other [...]
There’s still some waiting that needs to be done for EDC but I believe it’s just gearing up for some momentum.
After falling from its high back in October 2007, EDC has rebounded from its lowest point in December 2008, and has reached a high of 4.40 just this April. It is currently continuing its consolidation [...]