RWM harmonic pattern update and target hit

Travellers International Hotel Group, Inc.

RWM filled the previous gap at 3.30~3.36 and hit the 2nd retracement target (61.8% retracement) after a reversal from Bullish Butterfly harmonic pattern.

See previous analysis of this harmonic pattern:
https://psetrends.blogspot.com/2017/06/rwm-harmonic-pattern-update.html

Trading Plan
- Take some profit and profit run the rest of the position using trailing-stop.

RWM harmonic pattern update

Travellers International Hotel Group, Inc.

RWM has potentially completed the Bullish Butterfly harmonic pattern with PRZ around 2.95 (2.88~2.99 range).

See previous analysis of this harmonic pattern for more reference:
https://psetrends.blogspot.com/2017/06/rwm-potential-harmonic-pattern.html

Trading Plan
- Test buy or wait for reversal pattern confirmation around the PRZ area.
- Set stop-loss a few points from recent swing-low.

PHEN harmonic pattern update 2

PHINMA Energy Corporation

PHEN technically completed the Bullish Shark harmonic pattern and fully tested the 2nd PRZ (Potential Reversal Zone) area around 113% retracement. A Bullish Engulfing pattern also formed up around the PRZ area - a potential trend reversal candlestick pattern.

See previous analysis of this harmonic pattern here:
https://psetrends.blogspot.com/search/label/PHEN

Trading Plan
- Buy as close to the 113% retracement PRZ area.
- Set stop-loss a few points below the recent swing-low.
- Potential TPs are the 38.2% and 61.8% retracements.

BPI price action analysis

Bank of the Philippine Islands

BPI's recent price action is trading near its immediate resistance area around 107 where it could potentially form a Triple Top pattern.

Trading Plan
- Avoid for now.
- If already in a position, take some profit or scale down position. Profit run the rest of the position with trailing-stop.

SMPH breakout continuation

SM Prime Holdings, Inc.

SMPH is on a breakout continuation from a Cup-and-Handle pattern. The projected target price of this breakout is around 37/38.

See previous analysis on this C&H pattern breakout for more details:
https://psetrends.blogspot.com/2017/05/smph-on-potential-breakout.html
https://psetrends.blogspot.com/2017/05/smph-price-action-analysis.html

BLOOM price action update

Bloomberry Resorts Corporation

BLOOM is back within its 8-month Upward Price Channel consolidation and on a potential breakdown from a Double Top pattern (still requires confirmation). If this breakdown continues to unfold, measured target price is around 8.50.

*Recent pullback which followed after forming a Double Top pattern was also forewarned by a Bearish Divergence pattern on some indicators like CCI.

See previous analysis for reference:
https://psetrends.blogspot.com/2017/04/bloom-price-action-analysis.html

Trading Plan
- Avoid for now.

Stocks with BUY Consensus Forecast

*For stocks listed in the Philippine Stock Exchange
*Updated: June 2, 2017

Source: Financial Times

See previous update for reference:
https://psetrends.blogspot.com/2017/05/stocks-with-buy-consensus-forecast.html

RWM potential harmonic pattern

Travellers International Hotel Group, Inc.

RWM is potentially forming a Bullish Butterfly harmonic pattern with PRZ around 2.95 (2.88~2.99 range).

*Gap at 3.30~3.36 - a potential resistance area (may also be potentially filled in the future).

Trading Plan
- Avoid for now.
- Only trade this setup once the harmonic pattern has been completed (ideally with a reversal pattern around the PRZ).

APX potential harmonic pattern

Apex Mining Co., Inc.

APX is potentially forming a Bullish Gartley harmonic pattern with PRZ (Potential Reversal Zone) around 1.59 (1.51~1.59 range).

Trading Plan
- Avoid for now.
- Only trade this setup once the harmonic pattern has been completed.