Archive for November, 2014
At 118.65 Daily RSI 75.89 and RSI Weekly 73.53
PHR suggest parabolic top. May go higher, may not, but it suggest at this level, having a long position is at high risk status. A possible 500-600 pip drop from its high is a normal precedence.
it was in sept 2013, when marc was around 1.80 or so and most frequent comment nun was by senor Juan Sena’s “marc my word”. .prior to that, the ores, the shipments, the revenue marc disclosed, it was a laggard. sort like deadma sya ng market. before the sept 2013 goku set up. laggard na laggard ang mokong. when marc break the 2-peso barrier on that memorable month of Oct, it was worth the wait and i love doin it now. cpm has been silent. no news, no rumor, no ek eks. then the 3Q report came out. 14 shipments, 1 billion tons of nickel ore delivered, 1B peso revenue and 300 million plus peso (100m plus to parent) income. reminds me of marc. reminds me of sept 2013.
Ive been dead so many times until i stop asking God why, that’s when i feel alive
Daily and Weekly Chart. nice set up. Long consolidation. RSI weekly on limited barriers.
what’s interesting is very quiet ang cpm. imagine 14 shipments with 1 million tones of nickel ore shipped, and 1B pesos revenue (with income) and yet no news? no chika, no hype? price still stands at its boring range.
quiet odd. its market cap 2.7B lang compare to peers nya nikl asia 107B, cmt 15-16B, marc almost 11B
DNL is a possible nikl-like spike top on its parabolic weekly.
monthly chart – note that psei did only 3 parabolics cycles based on its monthly chart. the precedence of which is a huge drop after
completing a return move pattern.
daily chart will serve us enough time in case the monthly will happen. the trendline using the dec 2013 will be our stop.
using the 2009 low trendline is way to far at maybe 6400 support. in case of a major drop, we will use that trendline.