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Megaworld Corporation MEG has hit today the PRZ (Potential Reversal Zone) of the Bullish Gartley harmonic pattern at 3.39 (3.37~3.42 range). The relatively longer candlestick today with an above average volume may also signal an exhaustion of the current downtrend. *Observe for a reversal patterns at the PRZ. *There is still a possibility of the price action to fully test the PRZ area. *If the downtrend continues beyond the PRZ, it will likely invalidate the Gartley harmonic pattern. See previous analysis for reference that includes consensus and trading plan: https://psetrends.blogspot.com/2017/03/meg-potential-bullish-harmonic-pattern.html

NOW Corporation NOW is again on a technical rebound after hitting the support line of its uptrend price channel. The trend reversal was signaled by a Bullish Harami  candlestick pattern as it hits the support area. *Observe the volume on every pullback as well as the volume when it hits the resistance line of the price channel. A significant deviation from this pattern will likely warn a new direction of future price action. See previous analysis as it hits the support line of the price channel including appropriate trading plan: https://psetrends.blogspot.com/2017/03/now-price-action-is-back-to-uptrend.html See previous analysis for reference on the prior pullback. https://psetrends.blogspot.com/2017/03/now-bearish-pattern.html Trading Plan - Range trade the price channel. - Set appropriate stop-loss on every trade.

Alliance Global Group, Inc. AGI is consolidating in a range-bound price action with a historically strong support around 12.20 (the previous resistance and price congestion area during 2011 consolidation). Immediate resistance is around 13 where three previous short rallies were rejected. *Gap to fill between 13.90~13.96. *Major resistance area is around 13.90~14.00 (a potential level to take profit). Trading Plan - Range trade the consolidation (buy the support, sell or scale down near the resistance. Set stop-loss a few points below support, maintaining at least 1:2 risk/reward ratio. - Also, a potential medium term position trade as downside risk is relatively minimal (still consider a stop-loss to manage risk).

PLDT Inc. TEL is on a breakout from a bullish Head-and-Shoulder Bottom pattern with a projected target price around 1930. *Immediate resistance is near 1700 (1680~1700 area). Previous breakout from a Falling Wedge pattern has already hit the target at 1618. Trading Plan - Buy near the breakout area. - Set stop-loss on breakdown from 1386 for around 1:2 risk/reward ratio. * Note that the pattern took months to complete so don't expect a short term reward. This is potentially a slow mover if the uptrend continues.

NOW Corporation For the 4th time, NOW's price is back to the support line of its uptrend price channel. If it continues to follow the historical price action around this area, there will be a probability of a technical rebound. Previous analysis: https://psetrends.blogspot.com/2017/03/now-bearish-pattern.html Trading Plan - Test buy near the uptrend support line. - Cut-loss on uptrend price channel breakdown.

Jollibee Foods Corporation JFC is now at major support zone at 175.50~184.60 range. The relatively longer candlestick body on the 4th day of consecutive down days (together with a huge volume), may potentially suggest an exhaustion bar due to panic selling. *Monitor for reversal pattern at major support area. JFC Consensus Rating: Overweight Target Price Forecast:    - TP High = 260.00    - TP Med = 229.50    - TP Low = 173.00    - Avg TP = 220.63 Trading Plan - Buy the reversal pattern at support zone on confirmation (set stop-loss a few points below 175.50). - For a high risk play, accumulate in tranches the dips in the major support area (or lower towards 170) for a position trade.

Metro Pacific Investments Corporation MPI continues to trade within the PRZ (Potential Reversal Zone) of a Bullish Bat harmonic pattern. A test of 5.92 level or the full range of the PRZ area followed by a reversal pattern would be a good entry signal. *The PRZ area is also significant as it falls near the 10-month uptrend line of MPI. For detailed analysis and potential trading plan, please see previous post: https://psetrends.blogspot.com/2017/03/mpi-on-another-bullish-harmonic-pattern.html MPI Consensus Rating: Buy Target Price Forecast:    - TP High = 8.50    - TP Med = 7.90    - TP Low = 6.55    - Avg TP = 7.79 Updated Chart