Technical Insider

MER = 79 ( 6.8% ) MER formed a gap up white candle. Huge volume, biggest since 6 december 2007. MER possible resistance at 79. MER moved above 65MA and 32MA. Bullish in the short and mid term. MER forming an island reversal? MER hit the parabolic SAR on 24 january 2008 to signal possible uptrend. Might have confirmed uptrend today by formation of gap up and significant increase in volume. 130MA might be a level of resistance. 80.5 might be a level of resistance. Good luck to all MER traders!

MER = 74 ( 4.2% ) MER formed a white candle with higher low and higher high. Volume increasing. MER was able to close previous gap down. MER moved above possible resistance level at 72. I hope MER continues to form higher lows and higher highs. Nice to note that MER for the past 3 trading days was able to for lows at the previous trading day's high. Good luck to all MER traders!

MER = 71 MER formed a doji with higher low and higher high. Volume decreasing. MER forming resistance at 72. Disclosure: bought MER at 71. I hope MER continues to form higher highs and higher lows. Good luck to all MER traders!

MER = 70 () MER formed a white candle with lower high and lower low. Volume increasing. MER formed another white candle for the 4th time, whereas the PSEi formed a 7th straight black candle. Is MER showing it's strength by forming these white candles? news: fed cuts rate by 75 basis points Expect good things from MER Good luck to all MER traders!

MER = 83.5 ( 0.60% ) MER formed another white candle with higher high and higher low. Volume increased significantly. MER continues rally/uptrend. Possible resistance at 84? Good luck to all MER traders!

MER = 83 ( 3.1% ) MER formed a big white candle with higher high and higher low. Volume increased. MER continue rally or uptrend. MER retraced almost 61.8% of the recent correction or downtrend, making the continuation of the recent correction or downtrend less likely due to the unhealthy retracement. Looks like 130MA will act as a level of resistance and 65MA and 32MA will act as levels of support. Expecting a pull back? Window dressing? Good luck to all MER traders!

MER = 79.5 (1.3%) MER formed a black candle with higher high ang higher low. Volumed decreased. MER seems to be rallying and being supported by an aggressive demand line. I hope MER will again test the recent high or possible resistance at 89.5. Good luck to all MER traders!

MER = 80.5 ( -4.7% ) MER formed a long black candle with lower low and lower high and increased in volume. 65 MA looks to be acting as a level of support.

MER = 84.5 MER formed a white candle with lower high and lower low and increasing volume slightly. MER seems to have close a previous gap up. Sold almost half of my MER at 84.5 Good luck to all MER traders!

MER = 88.5 ( 7.3% ) MER formed a gap up white candle to move above the 130MA with significant increase in volume. MER broke out of what seems to be an aggressive supply line. MER manage to break the recent previous high of 88. MER posted greater volume since 9 septmeber 2007. Recommendation: hold until there is clear sign of reversal :) Support: 130MA, 84.5 Resistance: 93.5-94 Good luck to all MER traders!

MER = 75 ( -3.2% ) MER formed another black candle to test possible support at 75. MER seems to have formed an aggressive supply line. This is bearish and MER might break and look for a stronger support level. Support: 75; 73.5

MER = 78.5 ( 2.6% ) MER formed a gap up white candle. I hope this is a start of a rally that will test and close the resistance level made by a previous gap down. MER seems to have found a support level at 76. Resistance: 81.5-83 (previous gap down), 32/65MA Support: 77.5-77 (recent gap up), 76 Good luck to all MER traders! Hiked power bills seen as Meralco seeks rate adjustment anew (from Citiseconline and Technistock) Despite the recent reduction in Manila Electric Co.'s (Meralco) rates, the country's largest distributor is seeking a series of adjustments that will significantly jack up electric bills, a lobby group warned Tuesday. The impending increases come at a bad time, as consumers are still reeling from the unabated rise in fuel prices. "Meralco says it will reduce residential rates by P0.34 per kilowatt-hour beginning November. That's the good news. The bad news is that Meralco has a pending rate increase of P9.20 per kilowatt-hour," Raul T. Conception,...