Previous Chart Analysis can be read
here.
 |
Fig. 1 AC Stock Chart
courtesy of COLFinancial |
Last time I mentioned AC was under profit taking. AC as well as other blue chips are being sold due to FED Tapering News. FOMC meeting will be on the 18th and I expect continue selldown of big chips while talks of tapering is ongoing.
All indicators suggest selling action. Oversold conditions of RSI and STS hint long term holders of BUY. However, looking at the market sentiment and news on the coming days, I suggest we look at the support and determine target levels of BUY. Support 1 at 520 (S1) is a strong support as it is a 76.4 retracement according to my Fibonacci analysis. Also, early this year, it was a strong support before going to 580 levels. S2 at 511 is the next level however it may be weak as I only chose it because of lower lows. S3 at 485 is another strong support as it was the lowest price during the tapering news on August. This level is a strong resistance prior to 500 levels which was a year ago. For longterm holders like me, I wish it to go down hard at 485 for me to accumulate.
The meeting on Dec. 18 will tell me which levels to buy. If a Christmas rally will happen due to good news, S1 should provide a good BUY signal.
 |
Fig. 2 BDO Stock Chart
courtesy of COLFinancial |
According to experts on the forum, next year would be difficult for banks as interest rates will go up.
Sad news for Financials sector but long termers, this is a window of opportunity to accumulate. My beloved BDO is this year's #1 profitable bank. Estimated around P20B in revenues, BDO will increase bank branches to far flung areas (like JFC-> expanding).
I mentioned last time BDO behaved like AC. Currently it is still on a selldown. My only support is at 66 which was the lowest price this year due to FED tapering news last August. RSI and STS indicators suggest it is a BUY. MACD is way below 0 and things will only lighten up come 18th of December.
I tried looking for the past 3 years of BDO price activity and it seems during the last month of the year, BDO undergoes correction in time for "flight" come January and February. Does this suggest I should buy now? I think BDO has more to offer once the FED tapering is finished.
 |
Fig. 3 LTG Stock Chart
courtesy of COLFinancial |
My 3rd try for LTG is so far unsuccessful. I used TA and it seems this time it did not work fueled by news of poor revenues and not paying tax from its tobacco importation. Now, LTG has been on the 15 territory and the 19 levels may be out of reach, for now. Looking at the support, 14 is a previous resistance but S2 at 12.8 is a major support which is the price action before it zoomed up to 20+ levels. Indicators suggest selling action. RSI and STS will be helpful for long term holders.
I don't want to average down on this as this is only a short term stock for me. The only good thing is the gap down at 21. I do not know when it will go back to this level but it will be payback once it hits the target. Aim high LTG!
 |
Fig. 4 URC Stock Chart
courtesy of COLFinancial |
Last Oct. 29, I had 10% gain here. Greed took over and now I am negative. Positive is now is a good time to accumulate again one of the promising stocks. This consumer stock is also recommended by our friend Mr. Banker. Looking at support levels, S1 at 110 is strong but lingering news and steep pointing indicators tell me this could go beyond that and touch the S2 major support at 105. MACD and DMI strongly suggest selling pressure. Prepare to accumulate long term holders.
My mining stocks PX and LCB are only valuable once gold hits on or above $1400. As of the moment, one can only dwell on the red marks on their ports but as soon as metals shine like diamonds again, then we traders will have their attention on this two stocks. As of now I'm ipit with LCB.
My first 6months of stock investing is such an experience. Did I learn from mistakes to be able to face next year? Ups and downs are part of everyday success and will make you wiser at the end of every trade. Do not forget to share your views and listen to others as when they give their thoughts.
Merry Christmas everyone and may we see large green candles before and after this year ends! :)
