19/12/2014 04:37:52 Free Membership Login

LN’s UCC’s Feb 12

While the market was again flat with a positive gain in the index, market breadth was actually negative with losers lording it over the winners…

I think market will be back to “normal” mode come next week, when the rest of Asia comes back… Volume continues to be anemic… Now is the best fit time to be just range trading our babies, no matter how little spread – that is of course one is an addict trader like me…

Correction greeted MER, as I was quite surprised that it even dropped below P300.00 thinking already that the support at P301~P302 would be quite strong… Sometimes, it is really hard to predict the markets… The drop has invalidated MER’s current uptrend, and it sure looks to me that MER would just be sideways bound at the moment with a higher low in the works, probably at P295.00…

Also correcting with low volume are ATLAS and NIKL… ATLAS hit my support levels, and quickly bounced back but still ended the day down minimally…

CPG range trading also for the moment, with that P2.06 now acting as immediate resistances… The buy windows of CPG would be P1.98~P2.00… Also another range bound stock…

Another stock that has been dropping like a rock recently is VMC, its stochs now nearing 0… I would defintely buy this for a bounce trade once this hits below P1.40 (IF ever that scenario happens that is, not saying though that it definitely will…)

CHIB the lone bank that made some strides after breaking out, now above P62.00…

CHI the namesake of CHIB, dropped below P5.00 and still within the consolidation state at around P4.80 being the supports… Resistance pegged at P5.20 still which incidentally was the recent high…

Touching a low of P1.60 is VUL, support levels could be had at those levels, the stock should be now range trading as well, with the band probably set at around P1.60 thru P1.76 tops…

OV a tad higher to P0.046…

BLOOM retested P14.00 still part of the current consolidation phase that BLOOM is still in…

NIHAO still hounded by fundie selling but is creeping higher, now sitting at that psychological P4.00 … I continue to like NIHAO most especially on pullbacks…

Two stocks registered 52 week highs, these are CHIB and AGI…

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