BEL - Bell Corporation (Previous Post)
- I am giving this until this week to see if this will head north or south. Momentum is weakening.
- Price is making highs but still RSI is not...
- Still has a chance if it will confirm the breakout from the pennant (tilt)
- Not much of an update here... It confirmed the Bullish Engulfing pattern as it continued to close higher or did higher lows. But the candlesticks are weak... Not that bullish for now.
- Immediate resistance is at 6.40. I love to see RSI to breakout 71.09 to confirm that breakout and momentum upward is valid and strong.
MPI - Metro Pacific Investments Corporation (Previous Post)
- We now see the Golden Cross over of 50 and 200dma
- Price bounced at the 20dMA acting as support
- RSI also bounced
- Resistance is at 3.77 and RSI needs to break 72.44 to confirm that momentum upward is strong
CMT - Sotheast Asia Cement Holdings, Inc. (Previous Post)
- Formed a Shooting Star Candlestick today. From S. Nison's book, it says that Shooting Star is a top reversal pattern and usually appears during a rally. Also, the Japanese say that the shooting star shows "trouble overhead."
- RSI (14) reading now at 85.71... The top RSI recorded was at 90.62 last 9/13/2010 with price at around 1.80.... Both my RSI and Stochastic indicators are saying that this is at the overbought level...
- Volume today was high... Let's see if may magandang price action pa ito bukas. But both the candlestick and indicator are signaling that price already reached the top and signals for a reversal.
Sir, I bought MPI at 3.69 due to the golden crossover you mentioned. Any possible TP for this stock? Thanks a lot!
ReplyDeletehi nosteng, not all cross overs means na biglang galaw or taas ito. might take some time to react. mpi has shown some weakness today. price is making higher highs but RSI is not... immediate tp is at 3.77 and 3.89 but sa performance nya kanina parang this will move sideways muna... by the way, you entered at a high price na pala. so plan your stop loss if in case di maging maganda ang galaw nito in the coming days.
ReplyDeleteSir, thanks for the info. Newbie lang kase ako. Haha. Btw, i didnt go all in naman yet sa MPI. Im slowly accumulating, I added more at 3.63 earlier
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