Technical Insider

Disclosure: sold some geo at 2.34 (high of 2.36) at close sold some ni at 20 (high of 20.25) at close sold some mic 6.2 (high of 6.6; TP of 6.8) at runoff would have wanted to hold on to my positions but had to take some profit and lighten my positions because I won't be able to monitor the market as closely as today... Good luck to all traders :) happy weekend! take care and god bless :)

GEO opened with a gap! AC closed previous gap down NI opened with a gap... tried to close gap... but still trading higher than open MEG attempting to break out of resistance at 2.60 --> Ascending triangle FLI (TP 1.94) gap up testing possible resistance at 1.74 and 65MA... testing previous gap down at 1.82-1.74... High of 1.78 today... MBT formed resistance at 58? COL testing resistance at 11.25 MIC moving up :) high of 6.6

SM = 375 ( 2% ) Wow! just like SMPH, SM seems to be forming a nice ascending triangle :) Good luck to all SM traders :)

WEB = 0.0525 ( 7.1% ) hmmm... Formed long white candle with shaven head and bottom... Significant increase in volume... Crossed above both 32&130MAs... Yup... WEB seems to be moving up! Resistance: 65MA and at 0.055 Good luck to all WEB traders!

Ayala electronics unit to list at local bourse A unit of Ayala Corp. plans to list with the local bourse, the holding firm disclosed on Tuesday. Integrated Microelectronics Inc. (IMI), the electronics manufacturing arm of the Ayala group told the Philippine Stock Exchange that it would list its shares by way of introduction. The parent firm said IMI however has yet to submit its application for listing. "IMI is not pursuing an exemption from the registration requirements of the Securities Regulation Code as a result of various discussions with the [Securities and Exchange Commission] but instead may file a full-blown registration statement should it decide to pursue its listing," Ayala Corp. said. IMI, which is 70-percent owned by Ayala Corp., is a one-stop electronics manufacturing service (EMS) provider and original design manufacturer (ODM) operating in Asia and the United States. It offers original equipment manufacturers comprehensive manufacturing services and higher va...

Wow! Im really surprised that this simple blog was able to reach 1000 page impressions :) Today is the 1st week that this blog has existed and I thank all of you who were kind enough to spare some of your precious time in reading what is presented in this blog :) I do hope this blog has helped you appreciate the beauty that is technical analysis. But I have to warn you not to be deceived by beauty. Beauty alone will not help you escape the rat race (although for some really tempting individuals it is... more on that when I make a porn site... hehehe... joke... well, not really... show of hands all those who are in favor of making a porn site!). Technical analysis is a skill that needs to be practiced in order to be used as a tool/instrument for us to be able to overcome our emotions and become sound traders (super traders anyone? Mr./Ms. 400% club?). Again thank you for your time and effort in reading all this :) Good luck in your trades and God Bless! :) PS: Please visit the Absolu...

SM Prime to acquire Henry Sy malls in China SM Prime Holdings Inc. is poised to acquire three malls in China owned by the company's controlling shareholder, Henry Sy. In a statement, SM Prime said it has tapped Citigroup Global Markets Ltd. and Macquire Securities (Asia) Pte Ltd. as joint financial advisers in evaluating the potential acquisition of the malls. Earlier, the SM group was mulling over whether it would acquire the China malls and fold it under SM Prime or list under a separate entity that would be listed at the local or international stock market. Another option was to register the malls under a real-estate investment trust (REIT) in China, Hong Kong or Singapore, since the Philippines is still not conducive for REITs due to the present tax structure. Each mall is almost as big as SM Southmall in Las Piñas. During the first half this year, SM Prime's profits grew 11 percent to P2.9 B as gross revenues climbed 22 percent to P7.45 B over last year due to its aggressi...

Our beloved and well respected guru on technical analysis has again posted his comments on the price action of NI click on the link on the side or copy and paste this on your browsers address bar: http://tarantrader.blogspot.com/ Thank you tarantrader!

FPH = 79.5 ( 7.9% ) Looking at the white candle and gap up that FPH formed today, one would be lead to think that this acceleration is the return of the raging bulls for FPH. Again, when you look at the chart you will see that the big white candle was not given enough volume. One would also see that while FPH did produce a big white candle... it also produced a long wick on top that might indicate a level of uncertainty around those prices... The good: since FPH crossed and closed above the 130MA it will now serve as its support. Add that to the possible support of the gap between 77-77.5 which was a previous resistance. And most of all the gap it made today at 75.5-76.5 and the 32MA :) Resistances: possible resistance at 80 (the supply line of a possible ascending triangle) and65MA (81) Good luck to all FPH traders :) Disclosure: Have position at 80.5 months ago, which I held till the high of 92 and the recent low of 68... talk about hope and greed...

FLI = 1.68 ( 10.7% ) Wow! I posted resistances at 1.54 and 1.62/1.64 yesterday... only to find out I was going to find new resistances because FLI flew over these resistances and closed significantly higher and looks to test another resistance made by a previous gap at 1.74. Good luck to all FLI traders :)

GEO = 2.18 ( 6.9% ) GEO formed an impressive white candle and was able to close above both the 65&130MAs with good volume... hence: Disclosure: bought GEO at 2.18 at run off Right now... I can't spot any resistances until probably the consolidation at a high of 2.9... which is quite far off... so keep the demand line in mind and be watchful reversal candles or patterns :) Good luck to all GEO traders :)

Shares close up on rosy earnings outlook; PLDT on record run By Enrico dela Cruz Thomson Financial http://business.inquirer.net/money/breakingnews/view_article.php?article_id=91074 Notes: "There's speculation that the central bank will cut interest rates next week," he said. Manila's central bank will hold a policy meeting on Oct 4. Prakash Sakpal, an economist at ING, said the Philippine central bank has flagged the possibility of a rate cut following the Federal Reserve's move to cut its benchmark rate by a hefty 50 basis points last week. "We see a 50-50 chance of a 25 basis point rate cut at next week's policy meeting of the central bank," he said. http://business.inquirer.net/money/breakingnews/view_article.php?article_id=91074 Please read the article and visit Thompson Financial's website

PLDT job cuts highlight focus on broadband business Recently announced job cuts at Philippine Long Distance Telephone Co's will boost earnings and highlights the company's focus on strengthening its position in the market for broadband internet usage, analysts said. "That was a good decision by management," said Ron Rodrigo, research director of Unicapital Securities. "It will keep the company on track to posting sustainable earnings. It should have a positive impact on its bottom line in the long run," PLDT, with a market capitalization of about 11 B US dollars, is the Philippines' biggest company. It is controlled by Hong Kong-listed conglomerate First Pacific Co and partly owned by Japan's NTT Group. PLDT on Monday said it laid off 575 employees on Sept 15 because of changes in technology and consumer demand. The popularity of the mobile phone was partly to blame. "The impact of technological change is most evident in the case of telephone tr...

TEL going strong :) NI higher high and higher low; crossed above 65MA --> bullish GEO higher high and higher low must close above 2.12/2.13 (65&130MA) FLI Breakout! ALI confirms Breakout! AC Breakout! FPH gap up; crossed above 32MA; must close above 79 to cross 65MA GMAP --> reversal of downtrend? WEB breakout! --> crossed 32MA; must close above 0.052 to cross 65MA Good luck to everyone!

NI - 16.5 (0.0%) NI closed below its open of 16.75, but not before making everyone almost faint in excitement during the morning attack when it flirted with the idea of crossing the 65MA only to disappoint by gentle grazing it quickly and retreating below its open... one word for NI - tsope! (hehehe) For guys like me looking for the oops... it was a let down... For guys praying for some consolidation so that the flag and pennant can form :) most likely they have a grin as wide as your screen :) hehehe :) Check out my previous post about the resistances and support of NI since it closed at the same point it closed yesterday :) thanks so much for reading this update on NI :) Good luck to all NI traders :) PS: can someone please comment on the news I posted about their acquisition :) I still don't have a clear grasp of it :) Thanks again :)

ALI = 16 ( 3.2% ) I thought I saw a break out above a possible resistance of 15.75... ALI also crossed above the 65MA... ALI also accelerated its steep climb and threatening to test the resistance made by a gap down... Signs of bullishness... ... well, until I saw the volume... which sad to say doesn't impress... Well if you have ALI you can hold until it breaks the steep demand line. For those wanting to get a position in ALI, like me, I suggest we all wait until it shows a definite support level. Good luck to all ALI traders :)

GEO = 2.04 ( -1% ) Disclosure: I sold some GEO at 2.04 GEO continues its rally/uptrend by achieving higher highs and higher lows. It is a bit of a worry though that it formed a black candle, hence my rationale for selling some GEO. From the chart you can clearly see that GEO is about to meet both the 65MA and 130MA at 2.12 and 2.13. I hope that GEO will be able to move above both MAs :) Support: 2 - possible resistance, hence possible support 1.7 - again possible resistance and possible support Good luck to all GEO traders! :)

AC = 510 ( 2% ) Disclosure: Sold almost half of my AC at 510. From the chart above I drew a very steep demand line for AC. Today's AC movement breached that demand line. AC has also been resisted from moving up for 5 straight day at 510. I left some AC because I'm a bit unsure of the breach, but I wanted to protect some of my profits, hence sold at resistance of 510. Also last night in the news, I was able to catch the report that Ayala Corp. has finished its buyback program -- buying back at least 1% If AC continues to consolidate I will take out most of my positions in AC and wait for it to find support and buy at support. Good luck to all AC traders! :)

PSEi = 3475.75 ( 1% ) PSEi crossed above the 65 MA :) PSEi also trying to close the gap made from 7/31-8/1 Now PSEi is being supported by all 3 MAs :) What we are looking for now is the cross of the 32MA above both 130MA (3415) and 65MA (3450) to verify the dominance of the bulls :) Resistances: --> 3491, upper limit of gap down (7/31-8/1) --> 3545, recent high :) Supports: --> 3450, 65MA --> 3415, 130MA Good luck all traders! :)

Disclosure: Sold almost half of my positions in AC at 510. Break in demand line. Most likely consolidation in the short term. Also heard from Business Nightly that Ayala Corp. has finished buy back of almost 1-2% of its outstanding shares at around 490-500 :)

PNX = 7.7 ( 8.5% ) PNX one of the top gainers at yesterday's trading also crossed above its 32MA :) Resistance at 8, a recent high :) Support at 32MA, 7.4-7.5 :) Good luck to all PNX traders :)

PSEi crossed above 65MA :) yesterday 65MA at 3453 :) PSEi today 3486 :) Go PSEi!!! ALI breakout NI higher high, higher low GEO higher high, higher low GMAP new low at 8.9... sad sad sad day...

http://me-six.blogspot.com/ Technical Analysis of the Philippine Stock Market by Me-Six (super thanks for featuring me in your blog) http://www.yuwie.com/blog/?id=83928 - Technical Analysis blog by jeff

DCL #5900: Filinvest Land acquires prime property for mixed use Leading property developer Filinvest Land Inc. (FLI) announced it will soon be launching its first master planned mixed-use vertical development project within Metro Manila. The project will be developed on a 4-hectare prime property along Ortigas Avenue Extension that FLI recently acquired. Not only will it house several clusters of medium to high rise residential buildings, it will also be the home of business process outsourcing office buildings as well as commercial units that will cater to the needs of the residents and workers in the project and the surrounding community. The medium rise buildings will offer residential units for the middle income market segment. The prime location makes it a valuable yet affordable investment with a package price ranging from PhP1.3 to PhP2.5 M for studios, 1-bedroom and 2-bedroom units. It boasts of excellent accessibility to schools, hospitals, lifestyle centers, financial institu...

ALI set to start its biggest project ever Property giant Ayala Land Inc. is set to embark on its biggest project to date, the Nuvali township in Canlubang, Laguna, which is seven times the size of the Makati Central Business District. The Nuvali community, to rise on a 1,600 hectare property, is being positioned as a regional center with retail, commercial, business process outsourcing, residential, transport and even recreational components. It will be developed over a period of 30 years and will stretch from Sta. Rosa to Canlubang to Cabuyao. The project will have essential support facilities and amenities such as retail and service outlets, schools, training centers, residential facilities, sports and recreational amenities. About eight hectares will comprise a lake and park. Ayala Land will kick off the Nuvali community with the construction of an IT campus named Technopod. The first building, a four-story structure, will offer 10,805 square meters of office space and is slated for...

Alert! New post by Fitz Aclan at Yehey! Finance :) there is a link at the side bar so you can click on that to go directly to Master Chairman's article :) Excerpt: "With Fed move, the repercussions to the various financial markets are as follows: 1.) Equities: Stocks to go up in the near term. This is a given since interest rate movements (particularly key policy changes) are inversely correlated to equities. You can see this in the fact that the Dow Jones quickly reacted to the rate cut with a 300 point up move. But then it is still possible that we might see some volatility in the near term as the Subprime fallout is still not over." - Fitz Aclan at Yehey! Finance

Heard that MBT and ATR might be moving today... let's watch these stocks today :) hehehe :)

Geograce acquires 2 mining firms via share swaps Mining firm Geograce Resources Philippines Inc. said it had signed this week agreements with two companies to swap shares of its stock for their mining rights in a total of more than 30,000 hectares in three provinces. These two companies are Garnierite Mining Inc. and Saprolite Mining Inc., Geograce said in a disclosure to the Philippine Stock Exchange. Geograce said it would issue 173,736,363 common shares at par value of P1 each to the stockholders of Garnierite Mining Inc. and Saprolite Mining Inc. in exchange for 100 percent of the issued and outstanding capital of both companies and their rights to three mining areas in the provinces of Zambales, Palawan and Bukidnon. Saprolite has two mining tenements in the towns of Cabangan, San Felipe and San Narciso in Zambales, covering a total of 5,503 hectares, Geograce said. It said these areas were valued at P33.8 M, based on the mine valuation report of Minercon International Inc. Garnie...

DCL #5943: NiHAO Mineral lifting of trading suspension This is with reference to Circular for Brokers No. 5869-2007 dated September 20, 2007, in connection with the subscription by Mina Tierra Gracia, Inc. of 475,000,000 common shares of NiHAO Mineral Resources International, Inc. ("NI") to effect NI's acquisition of the Botolan Mining Rights. NI, in reply to the Exchange's request for additional information on the matter, submitted the attached disclosure. The trading suspension implemented on NI shares was lifter yesterday, September 25, 2007 at 9:00 a.m. NI = 16.5 ( 17.9% ) Great move by NI after the lifting of the suspension yesterday! Disclosure: I bought NI twice yesterday. Reasons why I bought: Good volume = beneficial change in ownership; crossed above the 130MA which will now act as a support level. Support levels: 15 = 130MA 12.5 = previous resistance 11.5-11.25 = 32MA Resistance levels: 17.25-17.5 = 65MA 23.5 = possible resistance, recent previous high Good...

Bought NI at 16.5 Sold WIN at 0.39 (all) Bought NI at 16.5 before close

NiHao raises capital stock to P2B http://www.abs-cbnnews.com/storypage.aspx?StoryId=93226 NiHAO Mineral Resources International Inc., formerly Magnum Holdings Inc., is increasing its authorized capital stock to P2 billion to allow the subscription of Mina Tierra Garcia Inc. to 475 million of its shares at P1 per share. In a disclosure to the Philippine Stock Exchange (PSE), the company said Mina Tierra will pay an initial P118.75 million, of which P61.47 million will be paid in the form of conveyance of its mining rights in Botolan, Zambales as per valuation of Minercon International Inc. The remaining amount will be paid in cash. Mina Tierra will pay the balance of P356.25 million upon call by NiHAO's board. NiHAO earlier entered into an agreement with Saprolite Mining Inc. for the same mining rights in Botolan. The agreement, however, has been cancelled on the request of Saprolite after it decided to assign the mining rights in favor of Mina Tierra. Trading of NiHAO sh...

AT = 15 ( 3.4% ) AT managed to close the gap today and crossed and closed above the 65MA. Hopefully the 65MA would serve as a support level. It seems to me that 15 is a psychological resistance for AT. Tomorrow we will know if 15 will be a resistance. Another resistance is the 130MA then we can probably look at the psychological resistance at 16.75 (a recent high) as a possible target price for AT (assuming you bought AT today after breaking a possible resistance at 14.5) Disclosure: I have some AT at 15.25 (before the credit crunch and the subprime issues) Good luck to all AT traders!

Multitech Investments Corp. Date : 09/20/2007 Listed firm to conduct 1:1 stock rights offering Publicly listed Multitech Investments Corp. said yesterday (19 Septmeber 2007) that it would offer 8M new common shares to its shareholders to raise funds for its plan to acquire mining tenements. In a disclosure to the PSE, corporate information officer Ana Maria A. Katigbak said the company would allow shareholders to buy one share for every share they already hold. The subscription price, she added, would be at the par value of P1 per share. MIC = 5.7 (0.0%) There is a lot of interest in MIC this trading day. This is not only because it is the stock pick of most of the respected technicians kind (and brave) enough to share with us their valuable analysis and expertise. As a technical analysis enthusiasts, we can see that there is a 2-day pole made when MIC broke out of its resistance at 5.2 with big volume. After which MIC tested the support at 5.2 (which was the previous resistance)...

AT Breakout!

GEO likely to open gap up at 1.98 :)

APC = 0.76 ( 4.1% ) First of all I would like to thank Broker M (the official broker of absolutetraders.com) for pointing out APC as a very promising issue. APC recently broke out of a short consolidation pattern to rally and post a high at 0.79. Last trading day, APC managed to form a white candle that seems to be engulfing a somewhat smaller black candle, which can be a bullish signal - bullish engulfing. Trading of APC today we will try to look for signs that will confirm its bullishness: forming a lower high, closing above 0.79 (the recent high and possible psychological resistance), and big volume (preferably more that 74M). Resistances: 0.79, 0.84/0.85 Supports: 0.64 (previous resistance Fibonacci retracements: 38.2%: 0.70 50%: 0.68 61.8%: 0.65 Good luck to all APC traders and thank you again Broker M! (for referrals to Broker M kindly send me an email or post a comment)

NI = 14 ( 30.2% ) White candle... Huge volume... what else can you ask for in a breakout? NI resistance at 12.5 was engulfed by the huge volume (8.7M) Support: 12.5 (previous resistance) 32MA = 11.25/11.5 Resistances: 130MA = 14.75-15 65MA = 17.5-17.75 Disclosure: I have been "technically inside" NI since prices were at 24. Its recent price action will help me recover the "paper losses" and might be able to decrease the effect of cutting my positions with NI. Go NI! Good luck to all NI traders.

AC = 510 As you can see from the chart, AC has a very promising demand line that might be able to test the resistance formed by the recent gap down at 560-540. Will AC breakout of this resistance? Only God knows (as my teacher in Public Health - Statistics) and we can only find out as soon as the pattern unfolds :) Note: MACD of AC has been above the zero line for 3 periods :) Good luck to all AC traders

PX = 7.4 ( 5.7% ) If you were able to glimpse this blog last friday, I posted that I sold all of my PX at 7.2. I did. The reason: It reached the target price and trying to be a disciplined trader I sold all. It also was a factor that during the 1st 30 minutes of trading that demand thinned out and I was scared (fear) that i might not be able to sell at the target price of 7.2. So I sold during the morning attack. Do I regret selling? No. No one goes bankrupt by taking profit :) (as one of my master's in technical analysis always points out). I love charting :) Hence my take on PX :) From the chart you can clearly draw a supply line that was broken by a significant movement of the price --> a gap up with big volume. Which pushed the price where it is today. It is also nice to note that the relatively faster 32MA has crossed above the 65MA to validate the bullish trend. Last trading day PX formed a gap up again and its usual long white candle with shaven tops and bottoms and...

MER reached a low of 81 before closing at 82.5 below its open and high of 83.5. I placed a fibonacci retracement to measure the health of the rally/bullishness. Since a 38.2% retracement (80.5/81) is considered healthy and can be a signal to the continuation of the trend corrected. Hence, I remain bullish with MER. It can also be noted that the 32MA is acting as a support at 82.5, the close. Resistance at 88.5 by the 65MA. Good luck to all MER traders!

GEO = 1.96 ( 5.4% ) Disclosure: I was about to let go of all my positions at GEO during the last trading day. It seemed to me that it was forming a lower low as compared to the previous trading day. As I waited until the last glimmer of hope that the demand side of the bid and ask spread vanished... suddenly demand volume picked up and propelled GEO to a higher high and forming a white candle with a shaven head - a bullish sign. (note: sometimes hope can work for you but hope always hampers discipline, therefore not good to hope - when it involves working you plan). From the chart of GEO you can see that I have drawn a demand line that is yet to be broken. What impedes this demand line are the resistances being cast by the 130MA (2.10) and 65MA (2.16/2.18). Another concern is the psychological resistance at 2. We can look for support at the previous resistance at 1.7. Can we still buy GEO at this point? If you would like to take advantage of the support at 1.7 and resistances at ...

PSEi = 3423.73 ( -0.5% ) PSEi closed at 2423.73 lower than its open at 3428.56. Is the recent high of the rally (previous trading day's high of 3446.69) already achieved the top? The answer will be known in the coming trading week :) We can only assume that the movement of the price is likely to be supported by both the 130MA (3406) and 32MA (3272). Both of which were resistances prior to being crossed by the price movement. A recent high at 3411.75 may also be considered as a psychological support. Now for the resistance. The 65MA (2461.61) is acting as the resistance. I can only hope that the bullishness continues and drives us past this moving average. So what can we expect for the coming trading week? I think there is still some momentum for the bulls (as can be seen if we chart the relative strength index of PSEi). MACD, the lagging indicator, which has been above zero for the last 2 trading days confirms this bullishness. There is some risk for consolidation or even bea...