Technical Analysis of FNI & URC as of 16 June 2015

Global Ferronickel Holdings, Inc. (PSE:FNI)

FNI

FNI last traded price as of June 16, 2015 is 1.71.  Based on daily chart, short term trend is bullish as per ichimoku elements.  The critical resistance levels that FNI need to break are the 38.2% fibonacci at 1.90 and 50% fibo at 2.10. However, there are also support-turned resistance levels along the way such as 1.73, 1.75, 1.80 and 1.85.

Universal Robina Corporation (PSE:URC)

URC

URC price action as of 16 June 2015 is 182.  In a daily chart, there is a support at 181.5.

URC is in bearish trend both in a daily and weekly chart. In a weekly chart,  critical support should not break at 50% fibonacci near 175.  Just observe the support-turned resistance near 187.3 for bounce since the trend is bearish as per ichimoku elements.  With its bearish trend, 61.8% fibonacci near 162 is still possible.

Leave a Reply