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)

http://1kagemusha.blogspot.com/2012/09/is-px-already-buy-09-sept-2012.html

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 ...

technically:

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

legend:

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