Triple Play

The APC-SINO-BEL trio is at it again! APC and SINO were two of the top ten gainers for the day, with APC rising almost 20% and SINO, 10% from its previous close. Although BEL isn't part of the top gainers, it has actually been rising for the past couple of days. In fact, it's rate of ascent increased starting three days ago as it broke above its resistance of 1.94. It's about time that APC and SINO caught up with this one. 

Looking at a more macro view, BEL is definitely the strongest among the three. In the very short-term, this can potentially go up to 2.20 but I expect resistance at 2.10 first. BEL has a promising short-term setup, but has to hold above 2.02 to work. 

APC recently consolidated within a 4 cent range from 0.51 to .055. I didn't expect that it would break its resistance so easily. In fact, today, it broke out in a lot of levels. First, in its resistance at 0.55 then on 0.59 and its Average True Range (ATR) of 2 cents. This all just shows how strong APC was today. Next resistance level to watch is its previous high of 0.66. 

SINO is moving within a range with support at 0.28 and resistance at 0.34 to 0.35. Break this resistance and SINO could potentially be headed for 0.38. 

Enough about the trio! The Aboitizes remained strong today. They continued to power higher but the difference in strength finally showed with AEV being the stronger of the two. Although both stocks were able to climb to their upward channel resistances, notice that AEV now has a steeper rate of ascent. This affirms that AEV, indeed, has more momentum than AP. Also, AEV was able to close the day at its highs while AP retreated after achieving its ascending triangle target of 14.75.

IMI was also strong today. It broke its resistance at 12.75 and even reached a high of 14.5 before closing the day at 14.25. Looks good to me. Maybe this one can finally fill its gap to 15. I'm happy to have made a 1 peso gain on this one.