PSEi July Thirdliners take center stage


So what went on with PA? Why did it shoot up like that? Who knows, we're here for the technicals, which show a breakout from its almost year long downtrend.  This runup is like an anniversary runup, since it also started July of 2007. Anyway, resistances at .11, .135, and .215


Buyers on the bid side were extremely light as compared to the ask sell side the past days, but it was just being bought up.  Chart reflects also a breakout of 1 year downtrend.  Whipping up some fibonaccis give us resistances of .036 .04 .045  and .055.  These levels also magically coincide with their previous high peak points.


Ajo has yet to break out.  Its immediate downtrend resistance is at .065, and subsequent resistances also shown above. 

MUSX TECHNICALS by Lawrence Gonzaga of Abacus for the first two weeks of June 2008 as shown above. 


To continue his technicals from that point in June, prices failed to breakout from that triangle, and yet chose to extend the triangle into a bigger one, as shown by green arrow resistance level.  Price action also shows an upward channel, with a 5 cent range.  Current support at .205 was bounced from, and may be headed to .26, and if breaks out like the rest of the strong third liners, .30-.31 may be next.  Which coincides with Lawrence's technicals.

….to borrow disclaimer from friend whipsaw, Posts appearing in this blog are solely intended for the study, research, and practical application of technical analysis and do not constitute recommendations or solicitations to invest or trade in specific stock securities. The author does not guarantee the accuracy of the charts and the underlying data

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