Tyro Trader's Analysis - July 28

Our PSE index today just flexed its resilient muscle. Despite the DOW Jones being down by around 1.5%, our market was apathetic and practically remained unchanged. All we need now is a catalyst, like a triple digit DOW move to the upside, to trigger a rally of our own.

In my July 22 blog entry, I mentioned that Aboitiz Equity Venture (AEV) was on my watchlist because of the symmetrical triangle it was forming. Since then, MACD is no longer pointing down and has flattened. Possible big move coming?

Lopez Holding (LPZ) also continues with its symmetrical triangle formation. DMI already gave a buy signal today signifying that it is about to enter an uptrend. This will be confirmed once we see prices break past P6.00 with good volume.

Vista Land (VLL) continues to conslidate its gains. It seems to be well supported in the P3.35 to P3.37 range. I'd probably give this a few more days of consolidation before it resumes its uptrend. Just observe the volume until that point when it has dried up which would signifies the absence of sellers. Next resistance could already be its 52 week high of P3.68 then possibly P4.00 afterwards.

Megaworld (MEG) seems to be hesitating in the P2.23 to P2.24 level; which is also its channel's resistance line. Prices might need to consolidate a bit in order to fall back within the bollinger band. For now, I'd let it establish a basing pattern in order to consolidate its previous gains before entering or adding up to existing positions.

Good luck with your trades as always!

All charts courtesy of citiseconline.

Disclaimer: My above analysis are just that: analysis. I am in not in anyway soliciting for you to buy or sell any security issue. The only person accountable for the trades you make would be yourself and I cannot be held liable in any way for the same.