Wednesday, July 6, 2011

APO and PNX

My stock picks for tomorrow would be Anglo Philippine Holdings Corporation (APO) and Phoenix Petroleum Corporation (PNX). 

I chose APO because the chart of APO looks poised for another run. Atlas Mining Consolidated (AT) has also shown resiliency despite the PSEi correcting. I think APO is a stock that is good to day-trade on momentum especially when it shows signs of strength tomorrow. I would avoid leaving the stock overnight because my indicators are alarming that it has breached the overbought level already.




My second stock Phoenix Petroleum Corporation (PNX) Iappears to have built support last week at P11.36. Relative Strength Index (RSI) shows a positive divergence, which means the stock can go up soon. The Moving Average Convergence-Divergence is also indicating that the stock is picking up momentum. Once the resistance breaks at P12 and there is strong momentum, we can easily see a rally towards P12.60.



1 comment:

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