Update: BPI (Bank of the Philippine Islands)
Posted by Arnold Diaz
Tuesday, August 25, 2009 8:01
Tuesday, August 25, 2009 8:01
Posted in category PSE Stock Picks
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Click here for the original trade idea
Long Term Trade
Alright, we’ve waited long enough for this long term trade to open.
Monthly Chart
- Potential AB=CD Pattern
- Bearish trend line break
- Reversed from 61.8% Fibonacci Retracement. Projected target at 161.8% (80)
Buy: 43 / Market
Target: 80
Stop: 36
Short Term Trade
Retracement of swing 41.5 – 46
Retracement of 31 – 47.5
Buy: 45 / Market
Target: 48.5 / 55.5
Stop: 42.5
On Failure
If our trade setups above fails, there’s a possibility that an AB=CD pattern will form with a projected target at 39.5 or a retest of the support line at 37. Buy at 37 / 39.5.
Potential AB=CD Pattern
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