Now that downtrend resistance was finally broken, we may expect our index to revisit its previous high.
AC – Ayala corp bounced from its support and may resume its uptrend. MACD signals a buy.
MEG – Megaworld may finally end its consolidation at 2.20-2.30 level.
Mr. Tee said BLOOM was on track in terms of starting casino operations. “Phase 1 construction is 80% finished and the company has started to hire and train dealers and other employees.”
Bloomberry Resorts’ grand opening is scheduled in 2013, but there are speculations it might have a soft opening later this year in time for the Christmas season, Mr. Tee said.
“However, there is always a risk the project might be delayed. Hence, the ‘speculative buy’ tag,” the analyst said.
Technically, 9.50-10 is the accumulation level. It has now finally broke its downtrend resistance. At current price, it’s now above 20-day SMA(Simple moving average), 50-day SMA and 100-day SMA. MACD is also bias on the upside.
We’ve seen LC/LCB bounced from their support. I’m expecting MA to follow the moves of LC/LCB. At current level, it’s good to buy near the support level.. just for position trading.
Now consolidating near the apex of the triangle. It may however go on both ways, just watch for the breakout/down. I am biased on the upside.
Lastly…. OV. I bought at 0.050 which for me is safe. I also noticed Macquarie aggressively buying last Friday.Sorry for not drawing the chart. MACD already showed the buy signal last week.