X - the trend is your friend

Xurpas Inc.

X is now on a rebound mode and trending up after recently bottoming out from a Double Bottom pattern supported by a Bullish Divergence pattern on several indicators.

The breakout from 9.00 also suggest a strong momentum making it the new support area.

Trading Plan
- Trade the trend using appropriate stop-loss to manage the risk.

X: Head and Shoulders Bottom pattern

Xurpas Inc.

The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend. The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend. The lowest low (head) is in the middle, flanked by two higher lows (shoulders) at roughly the same level. Volume is highest as the price makes the first two declines, then diminishes through the right shoulder. Finally volume surges as the price closes above the neckline (drawn between the two highs) to confirm the reversal.

Event Date: Feb 16, 2016
Opportunity Type: Intermediate-Term Bullish
Close Price: 12.96
Target Price Range: 15.00 - 15.50

Price Period: Daily
Volume: 1,291,500
Pattern Duration: 29 days
Inbound Trend Duration: 39 days

Analysis and Chart Source
Firstmetrosec Recognia technical event scan tool
http://fmsec.com.ph/

X: Potential buy signal but limited upside

Xurpas, Inc.

Bullish Hammer formed up at the key support area (a bullish trend reversal candlestick pattern).
*Pattern reliability = low (Lit Wick)

- Immediate support at 10.76 (previous resistance prior to breakout now becomes support).
- Bullish pattern developing on MACD.

Trading Plan
- Test buy at current support area.
- Limited upside with short term TP around 12.6~12.88 (higher reliability TP at 11.90~12.00).
- Stop-loss around 10.2 or 10.3 for a risk/reward ratio of at least 1:2.