I bot MER. Last night, I read an article by expert Faceless Trader about MER's breakout. It was a good read and I believe it is true. And one way to learn again is to buy the stock and see what happens.
MER has been plagued with issues connected to their increase in distribution charge caused by the power shortage during typhoon Yolanda. Of course this is negative for MER, but Tech Analysis may give us a clue on its price action.
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| Fig. 1 MER Daily Chart courtesy of COLFinancial |
The lines were originally drawn by Faceless Trader. Breakout at 275, forming a flag then which level do you think it will go up? Buyers are still in command but MACD losing steam. A trader maybe wary on his/her entry, but looking at the weekly chart below suggests something.
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| Fig. 2 MER Weekly Chart courtesy of COLFinancial |
MACD still rising, Buyers started commanding and RSI still below overbot levels. Candles still bullish and I suggest MER will break first resistance of 290ish in 2-3 weeks. Cash dividend declaration maybe due next week.
--> Good decision on selling AC and BDO as their prices plunged today. AC despite robust earnings dipped 3%.
--> As expected, many traders sold their TEL position. They might have bought it around 2500-2600 levels. I expect selling to continue until Friday just like what happened to past years during post ex divi dates.
--> Market pullback is expected in reaction to overbot levels. Next week I believe will be another test to 6600 (using weekly chart, MACD rising)
PH stock market returns below 6,500-mark
No black sand mining in Ilocos Region - MGB
Jollibee to open stores in Indonesia, Canada this year ikaw na talaga Jollibee!
Current Port:
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| Fig. 3 My Portfolio courtesy of COLFinancial |
Walang Konek sa Stocks Part:
--> Need to renew PRC and Driver's License, nalaman kong expired na mareject after hingian ako ng ID. Pwede pa ba sa SM ang PRC? (ok lang muka man daw akong 18 pa hihihi)
-->Finally, signing of my BDO Home Loan on Friday. Parang kailan lang...
--> Need to trim down weight, 80 level na naman, dami chocolate dito sa bahay
--> Spurs 47-16, we can be champions this year
--> Balik site na naman sa Tues...
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