Wednesday, June 26, 2013

The Ninja Stock Monitor: JFC/Jollibee Foods Corp. (26 jun 2013)

selected technical indicators of PSE-listed stocks

26 june 2013 closing prices

jfc (jollibee foods corporation)  

c: 137(+; higher)
s: 125.30, 124.70, 120, 115
r:  140, 150, 151, 160
vol: above the 5-EMA
macd: < 0
macd histogram: < 0
macd histogram direction: going up/higher
sts: 18.11 (+)/oversold

for an explanation of the indicators ... click: here 

jfc chart as of 26 jun 2013 
(click on the chart to enlarge)


1. jfc closed bak above the 130 psychological barrier to 137 ... indicating a possible interim bottom @124.70 ...
2. the histogram changed direction .. its now pointing up ... the sts while still oversold is similarly pointing up ..
3. today's across the board price action made a lot of people think that the market may have already found its bottom yesterday ... maybe .. maybe not .. i dont know ..
4. what to do? options: 
a. just continue waiting in the sidelines .. until a macd buy signal is given ..
b. establish an initial reentry position in the coming days ... buying 1/3 of the envisioned position .. and just add as the price action continues favorably .. 

im more inclined to take option b ...  with the corresponding cutloss point just in case the price action goes the opposite way

previous JFC posts:
- just charts: jfc/jollibee foods corporation (15 jun 2013)

for reference .. 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