STOCK CHARTS AND ANALYSIS – MER
STOCK CHARTS AND ANALYSIS – MER
In accordance with our Independence Day commitment, following is our Technical Analysis of MER (MANILA ELECTRIC COMPANY) as of November 10, 2015.
This is the first of our THREE for FREE for this week.
TA – The Responsible Trader’s Way – Straight from the Chart
Positive
1. Breakout from 38.2% Fibo. The stock has broken out of the 38.2% Fibo indicating a very strong Uptrend.
2. Price action above 15 EMA and 20 SMA – Bullish – Short Term. Price action above 15 EMA and 20 SMA shows that the stock is Bullisn on the Short Term.
3. Price action above 50 SMA – Bullish – Medium Term. Price action above 50 SMA indicates that the stock is Bullish on the Medium Term.
4. Price action above 200 SMA – Bullish – Long Term. Price Action being above 200 SMA shows that the stock is also Bullish on the Long Term.
Negative
1. Last Candlestick Bearish Shooting Star. Although the stock appears to be on a strong Uptrend, the last candlestick seems to be a Bearish Shooting Star indicating a pullback soon.
NOTES
1. Positive points are things that could work in your favor. Negative points are things that you have to watch out for.
2. On the opposite side of Pattern Targets are Pattern Failures. In case you decide to take this trade, always remember to set a stop loss based on your established risk tolerance level.
3. September is a very significant month for us. It was at the same time this year that we introduced Responsible Trading to mainstream social media. Starting September 1, 2015, since you are already familiar with our caption “TA – The Responsible Trader’s Way – No Hyping, No Bashing, Just Plain Cold Facts” we are changing this to TA – TRT Way – Straight from the Chart.
The Chart and Analysis is presented for educational purposes only and should NEVER BE TAKEN as a RECOMMENDATION to BUY, HOLD, or SELL.
Please trade with CAUTION, please trade with CARE. As always, IT’S YOUR TAKE, IT’S YOUR CALL. IT’S YOUR MONEY AFTER ALL.
Good luck on all your trades.