TUGS consolidation continues

Harbor Star Shipping Services, Inc.

TUGS continues to consolidate towards the support line of the uptrend price channel. This consolidation/pullback has been warned already by a prior bearish divergence pattern on RSI and EFI.

*MA20 acting as immediate support area for the current uptrend.
*Resistance area around 4.00~4.13.

Trading Plan
- Trade the trend of TUGS using MA20 or the uptrend support line as entry point (use the Stochastic crossover and pointing up as reference timing signal).
- Stop-loss should be on price channel breakdown. Can use the breakdown from MA50 as stop-loss for those willing to take higher risk.
- Avoid on price channel breakdown.

PLC trend trading potential

Premium Leisure Corp.

PLC revisited the nearly 5-month uptrend line around MA50, a potential support area for the current trend.

*Major support at 1.20.

Trading Plan
- Test buy near the uptrend support line or around 50MA to ride the trend.
- Set stop-loss just a bit below 1.24 or on major support breakdown.
- Profit run a winning trade with trailing stop.

MPI consolidating in a potentially bullish pattern

Metro Pacific Investments Corporation

MPI is consolidating in a bullish Flag pattern, a trend continuation pattern.

- Consolidation may likely continue with downside risk towards 6.40 ~ 6.60 range in the near term.
- Resistance area is around the recent 78.6% retracement (7.10) after the reversal from a Bullish Bat. Harmonic pattern.

Trading Plan
- Buy the breakout.
- Also a potential position play if it dips towards 5.80~6.20 area.

CHP potentially bottomed out already

Cemex Holdings Philippines, Inc.

CHP has potentially bottomed out already at 9.05. A rebound from this level followed by a retest of this area will likely form a bullish Double Bottom pattern and will potentially be another buy opportunity if it also gives a bullish divergence pattern on some oscillators/indicators.

*IPO price of CHP was at P10.75 per share, a possible resistance area.

Trading Plan
- Test buy near the recent bottom or wait for another pullback near the recent bottom.
- Set stop-loss just below 9.05 (or below 9).
- Potential TP is near the resistance area around 10.75.

MEG in Triangle pattern consolidation

Megaworld Corporation

MEG is currently consolidating in a Symmetrical Triangle pattern, a potential trend continuation pattern from the recent reversal after it bottomed out at 3.21. A breakout from this pattern will have a projected target around 4.35 ~ 4.40. On the other hand, a breakdown from this pattern will potentially put the price back towards 3.50 ~ 3.21 area.

*If the consolidation continues near the apex of the triangle, it will likely invalidate the whole Triangle pattern.
*Immediate support around 3.50 ~ 3.60.
*Immediate resistance around 3.89 ~ 4.00.

Trading Plan
- Buy on breakout.