Last Run on May

Last May 10, I posted on my blog that there were some stocks pulling back to prepare themselves for a shoot up. I think this week will be the rally for these stocks. Hopefully, we will start April with the bulls charging in. TEL is interesting. It has been going up for the past few days and its MACD will soon cross-over. If it breaks 2550, you can potentially see the 2700 level as the next resistance. Some stocks that are bottoming out are AGI with its gravestone candlestick, MEG with bullish piercing pattern, and DMC with its bullish harami pattern. But I'll be closely monitoring DMC. It can either go up tomorrow and continuously so to fill the gap or just make a lower high to fulfill a much larger pattern -- a downtrend pattern. Another interesting stock is AEV. It just won't go down its 66% Fibonacci retracement. It might go up to 42 this week if the bulls continuously take over the bears. Finally, who could ever forget the Mining Industry? If you ask me, I will definitely hold LC and LCB for the long term. I think they have hit the jackpot from their goldmine. PX on Monday will be a momentum play for me.

SECB, Possible Dividend Play

Chart of SECB is okay. It's ranging from 92-95, but can possibly go up to more than 95 this week. They recently declared dividends worth P1.00. Ex-date is on June 1. Strategy for SECB can be a dividend play. That's all for now.

JFC, Time to Be Jolly?

I've been accumulating JFC (Jollibee Food Corporation) stocks for the past week. I am led to believe that it has corrected already because it retraced up to 66%. That's a deep correction! Furthermore, support is heavy at P86.

Just a while ago, the PSE disclosed that JFC has acquired a percentage of a large Vietnamese company that operates various restaurant-chains in Vietnam, and all of its Chow King stores from Fortune Food Services Inc. who was licensed to manage said stores in the U.S. This means that JFC is really expanding its restaurant business portfolio to tap other countries, and may be serious in growing their Chow King stores in the U.S. because of its potential. I hope this good news can help JFC's price reach P100.00 already.

Am I in Good Hands with Metrobank?

Today is another trading day! For my stock reviews, I choose Metrobank because I saw a Three Rising Soldiers candlestick pattern, and my MACD and Stochs are saying a buying signal for this stock. Other stocks worth looking into are Semirara Corporation and (SCC) for a possible dividend play and Banco De Oro (BDO) because of its resilient uptrend. Props to BDO for sustaining its uptrend despite the choppy market. If you guys are looking for a low risk entry or for stocks that can be accumulated, I think you guys should monitor Jollibee Foods Corporation (JFC) because it has retraced 66% already. Of course, this can still go down.  

Turtle Market, Let's Be Day Traders!

The market is sluggish recently. A lot of companies disclosed a net loss during the first quarter of 2011 due to inflation. Apart from that, I just sighed when I saw Atlas Mining (AT) surge dramatically and Leisure & Reorts World (LR) close at a high of P11.5 today. For Atlas Mning, I was wondering why it's only now that people are making a big fuss over their huge net income. That news was disclosed way way back. In fact, it was the time when I posted my review on Atlas Mining. Due to the low volume and lack of price action at that time, I forgoed AT as being part of my portfolio. As for LR, I sold too early today at an average price of P11.04. Intuition told me to hold on to it and sell tomorrow because its chart looks good. However, when news came out today that LR will be suspended on Wednesday because they failed to submit their 2010 Annual Report on time, I hurriedly locked in on my profits. Boohoo. :(

Since most of the stocks are correcting for the past days, I think I might do some aggressive day trading with any of these stocks: AT, BEL, LR, and ANI. Just buy the dips and sell on strength. Lock on profits within the day. No carry-overs. As for LC, LCB, MA, and MAB, I do hope there is still play on these stocks. Without them, the market is boring. hehe.

As a side note, I am still bullish on Meralco (MER). It has a lot of elements of a symmetrical triangle that will breakout such as a pre-mature breakout, volume decreasing but has spikes, and has been developing the pattern for at least 3 weeks already. Earnings report is quite good too. What do you guys think? :)

Ayala Corporation (AC) and Manila Water Co. (MWC), Are You Ready?

Ayala companies are slow moving for me. But if their stocks look good, then I guess I'll have to invest in them. For Ayala Corporation (AC), it has been consolidating for a while. It's in the accumulation phase. Now that the news are out posting a 16% net income growth, I would expect their stock code to appear more frequently in greens this week. I wonder if I can still chase this stock. I hope it breaks the resistance of 390 to go up substantially.

Another slowpoke in the market is Manila Water Company (MWC). It woke up from its slumber last Friday and closed at 18.28 (+1.2% change) with a high of 18.5. My stochs and MACD alarmed a buy signal last Friday. News came out that their core income increased by 14%, but Net Income decreased by 3% due to a decrease in fair value of P4B bond. Let's see if bulls will push the price of this stock higher.

FGEN's and BDO's Uptrend; Stocks Pulling Back to Shoot Up?

Today TEL went up. MER is still on my watch list. As for RFM, I think it's not yet its time. Asides from these stocks being on my watch list, I kept a separate sheet where I wrote down what stocks could possibly go up today given their charts. AP, AGI, FGEN, and EEI were on that list, and they all went up. The reason why I wrote them on a separate sheet is because I think these would not really go up drastically as I think TEL, MER, and RFM would today. However, it looked like my priority watch list didn't perform better than my secondary watch list during the trade a while ago. Based from the performances of the various stocks in the Philippine Stock Exchange, I'm beginning to believe that we can easily walk over the 4350 mark. I also hope that this is the sign that we will break the 4500 resistance soon.

Anyway, here are two stocks that can be bought for those who wants to be risk-adversed, but can gain returns in a few days or weeks: FGEN and BDO. The reason why I chose these stocks is because of its strong uptrend. Observe how the prices don't fall below the short-term moving average (red solid line).

For tomorrow, apart from MER being on my watch list, I would also add in AEV, EEI, JFC, BEL, LR, MPI, and SM. There's a few more actually. I think a lot of stocks area already bottoming out. If that's the case, then I hope we could break 4500 mark soon.

Blue Chips Making a Move?

Sorry, I wasn't able to post yesterday night. Since I wasn't able to post yesterday, I'll just post my stock review today, right before the PSE opens. I think TEL and MER can potentially go up today based from their charts. Their indicators and oscillators are alarming a buy signal already. Another stock that I'm monitoring will be RFM. Its chart looks like it is poised to go up.

I'm excited already because starting this week, companies will be disclosing their first quarter report. It's crunch time for me as I'll be reading and making a sound fundamental analyses from these reports so that I can get a clearer picture of the stocks in the Philippine Stock Exchange.

Good luck traders!

Gokongwei Stocks Still Bullish?

Last week, Gokongwei stocks, specifically CEB, JGS, and URC, were going up. Based from my Technical Analysis (TA), I expect that they would still continue to go up tomorrow. It looks like these stocks have a good upside, especially JGS where the sky can be the limit. CEB is so strong recently. I guess foreign investment houses are buying into this stock because of its strong fundamentals, and the recent news of Citiseconline.com that oil prices have already been discounted in the price of CEB gave good reason to the public to start investing in this stock. Tomorrow, I will be monitoring JGS and URC. JGS looks interesting with its Rising Three Methods candlestick pattern while URC may gain momentum.

As for LC, LCB, MA, MAB, and PX, I would like to see them go up tomorrow. I am hoping that there will be more buyers of these stocks now since the news has already been out. In case you still don't know, PX is buying into LC. And since Manila Mining stocks (MA/MAB) are correlated with the Lepanto stocks (LC/LCB), I won't be surprised if MA or MAB would also go up. Be wary though, when the news are out, usually that's the time to sell.

Green Monday

Friday's market performance was strong. A lot of stocks, particularly PX, LC, LCB, JGS, and CEB rallied near the close. It's unbelievable to see mining stocks this strong. There is a lot of promise in mining stocks because of the recent developments in the industry, at the same time we can't discount the fact that prices of minerals and precious metals are still ridiculously increasing. I see PX, NIKL, LC, and LCB still going up come Monday.

As for JGS and CEB, their strong rally near the close is a signal that the bulls may have taken over. JGS might continue its uptrend from before while CEB may possibly do a reversal.

All in all, I'm confident that PX, NIKL, LC, LCB, JGS, and CEB will contribute green points on PSEi's performance on Monday (SM looks good too).

Another industry that could contribute green points would be the power industry: AP looks poised for a reversal, EDC is trying to make new highs, and FGEN still has batteries to go up.

For position traders, FLI and MEG might be good buys tomorrow. Better monitor first though. :) For all those PNX holders, congratulations! Slap me for not buying when it was still consolidating.