MWIDE price action analysis

Megawide Construction Corporation

MWIDE is currently trading at the support line of its 5-month Upward Price Channel.
- immediate support area around 17.70.
- immediate resistance around 19.70.

Trading Plan
- Potential position trading opportunity around the support areas. The lower the better approach (medium to long term trade)

Consensus of stocks under the PSEi index

Source: First Metro Securities
https://www.firstmetrosec.com.ph/

February 9, 2018

SMPH price action analysis

SM Prime Holdings, Inc.

SMPH formed up a Bullish Piercing Line pattern as it hits the Major Support area around 35.

See previous analysis on SMPH for reference:
https://psetrends.blogspot.com/2017/06/smph-breakout-continuation.html

Trading Plan
- Accumulate near support area for a position trading (medium to long term position).

MEG potential bullish pattern

Megaworld Corporation

As MEG continues to trade in its 3-month Downward Price Channel, a potential Bullish Divergence pattern is developing after retesting the support at 4.80 (4.7~4.8).

See previous MEG analysis for reference:
https://psetrends.blogspot.com/2018/02/meg-price-action-update.html

Trading Plan
- Buy the breakout from its Downward Price Channel on good volume.
- For position trade, accumulate the dips near support area and set the stop-loss a few points below 4.70.

MEG Price Action Update

Megaworld Corporation

MEG's price action continues to move within its 3-month Downward Price Channel with immediate support around 4.80.

*Potential Bullish Divergence pattern in the making (needs further confirmation).

Trading Plan

- Avoid for now.

- Buy the breakout from its Downward Price Channel on good volume.

- Potential position trade around the support area if Bullish Divergence pattern can be confirmed.

DD Price Action Update

DoubleDragon Properties Corp.

DD continues to respect the resistance line of its 9-month downward price channel. Volume trend however tends to get weaker on every dips, a potential sign that it may have found its support area.

*Major support around 36.

Please see previous analysis for trading plan on DD:

https://psetrends.blogspot.com/2018/01/dd-price-action-analysis.html

Friday Motivation

"When there are huge losses in the market you'll have opportunities to buy good companies with stocks that have become bad because the market turned down."

- Jim Cramer