Sunday, 17 June 2007

PSE stock picks for the week of June 18

Here we go with our forecast for the week. First off the bat is ICT.

Based on the chart, we see a nice consolidation that now turned into a symmetrical triangle. The resistance I see is at 29.25. Therefore, I think a buy is called when it hits 29.50. Target for the short term is 34.00.

Next is the big daddy of the IPOs before, PCOR.

Based on the chart, we can see that it broke out of a big symmetrical triangle, gapping up. Right on the day of the gap, it starts a new area pattern; a smaller symmetrical triangle. As I see this, resistance is at 5.30, so once it hits 5.40, I would buy if I had extra funds and wait for the target of 6.10.

Next posts would be on certain US stocks.

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