Wednesday, January 30, 2013

The Ninja Stock Monitor: MEG (30 jan 2013)

selected technical indicators of PSE-listed stocks 


c: closing price
s: support
r: resistance
vol: volume (+ above 5dma; - below 5dma)
macd: moving average convergence divergence ...  values: 12; 26; 9
rsi: relative strength index ... values: 14; 30; 70
sts: stochastics ... values: 15; 3; 5
rem: remarks
unch: unchanged 
(+): higher
(-): lower

29 jan 2013 closing prices 

meg (megaworld corp

c: 3.30(+)
s: 3.15, 3.12, 3.10, 3.07, 3
r: 3.34, 3.20, 3.22, 3.27, 3.33 
vol: (+)
macd: (+)
macd histogram: (-)
macd histogram direction: (+)
rsi: 69.46(+)
sts: 62.19(+
1. meg made its first attempt to break out of the 3.07/3.10 - 3.33 trading range yesterday ... trading just a centavo up @3.34 but it eventually closed @3.30  ... still higher than the previous day's close ... but now more within striking distance of the long awaited breakout for the last 3 weeks ....
2. the histogram is inching nearer towards a macd buy signal ....  both the rsi and sts still within their trading zones ...
3. what to do? am hesistant to take a position at the moment since it is nearing the3.33/3.34 resistance and yesterday's close indicated that the resistance at least for yesterday's trading was still holding .. taking a position now below 3.33 would expose me to a possible whipsaw ... on the other hand ... the probability of a breach of the resistance is also present ... hence .. a dillemma .. however ... here are my options:
a. buy half of my intented position today ... set the necessary cutloss point ... (op kors monitor the price action closely first before jumping in) .. then buy the other half should the breakout at 3.33/3.34 becomes a success ... or ..
b. just wait until the breakout occurs ... then buy half of the intended position ... just add as the price advances ..

previous MEG monitor: The Ninja Stock Monitor: MEG (28 jan 2013)

you may also want to read: my trading rules

p.s. readers are encouraged to check out the stocks' charts themselves .. using the values for each of the indicators (the values for the indicators are the default values used in's charts) ... in the absence of any personal charting program, the pse website's charts are enough for the purpose