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Showing posts from February, 2018

MWIDE price action analysis

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Megawide Construction Corporation MWIDE is currently trading at the support line of its 5-month Upward Price Channel. - immediate support area around 17.70. - immediate resistance around 19.70. Trading Plan - Potential position trading opportunity around the support areas. The lower the better approach (medium to long term trade)

Consensus of stocks under the PSEi index

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Source: First Metro Securities https://www.firstmetrosec.com.ph/ February 9, 2018

SMPH price action analysis

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SM Prime Holdings, Inc. SMPH formed up a Bullish Piercing Line pattern as it hits the Major Support area around 35. See previous analysis on SMPH for reference: https://psetrends.blogspot.com/2017/06/smph-breakout-continuation.html Trading Plan - Accumulate near support area for a position trading (medium to long term position).

MEG potential bullish pattern

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Megaworld Corporation As MEG continues to trade in its 3-month Downward Price Channel, a potential Bullish Divergence pattern is developing after retesting the support at 4.80 (4.7~4.8). See previous MEG analysis for reference: https://psetrends.blogspot.com/2018/02/meg-price-action-update.html Trading Plan - Buy the breakout from its Downward Price Channel on good volume. - For position trade, accumulate the dips near support area and set the stop-loss a few points below 4.70.

MEG Price Action Update

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Megaworld Corporation MEG's price action continues to move within its 3-month Downward Price Channel with immediate support around 4.80. *Potential Bullish Divergence pattern in the making (needs further confirmation). Trading Plan - Avoid for now. - Buy the breakout from its Downward Price Channel on good volume. - Potential position trade around the support area if Bullish Divergence pattern can be confirmed.

DD Price Action Update

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DoubleDragon Properties Corp. DD continues to respect the resistance line of its 9-month downward price channel. Volume trend however tends to get weaker on every dips, a potential sign that it may have found its support area. *Major support around 36. Please see previous analysis for trading plan on DD: https://psetrends.blogspot.com/2018/01/dd-price-action-analysis.html

Friday Motivation

"When there are huge losses in the market you'll have opportunities to buy good companies with stocks that have become bad because the market turned down." - Jim Cramer