Saturday, September 22, 2012

so .. is px finally a buy? px ... 2 weeks after (px, 22 september 2012)

i posted this question two weeks ago when px closed at its 52-week low (17.20) ... and i said:

so ... is px already a buy?
i suggest to the reader to do his own analysis as an exercise ... will be good for u ... then lets compare notes
as for me ... ill wait a while first ... px may still go further south ... and i guess ill wait for the indicators to point up first before thinking of buying any share

is px already a buy? (px, 09 sept 2012)

let me review now where px is at the moment and see if anything has changed to likewise change my views:

fundamentally .. we know that the mine will be closed until end of the year at least ... so nothing new there ...


The Ninja Stock Monitor (px, 21 sept 2012)

selected technical indicators of PSE-listed stocks

these are my trading notes for my reference only
by no means are these to be taken by the reader as recommendations to buy or sell
c: closing price
s: support
r: resistance
vol: volume (+ above 5dma; - below 5dma)
macd: moving average convergence divergence
rsi: relative strength index
sts: stochastics
rem: remarks
unch: unchanged 
(+): higher
(-): lower

21 sept 2012 closing prices 

px (philex mining)

c: 14.82 (-)
s: 14.82 (intraday low); 14.80; 13.74
r:  15.82 (intraday high); 16.12
vol: (+)
macd: < 0
macd histogram: < 0
macd histogram direction:(-)
rsi: 22.6(-)
sts: 14.92(-)
rem: it seems nothing has changed except that px is 2.38 pesos lower than 2 weeks ago (-13.84%) ... macd,rsi and sts all still look bad ...  in this regard, im still a waiter:

  ill wait for the indicators to point up first before thinking of buying any share

btw.: px on sept 7-11 proved that the 52-week high on a friday rule also works the other way.

Secrets of the 52 Week High Friday Rule