Stock in Focus: Phoenix Semiconductor Phils (PSE:PSPC)

PSPC

Phoenix Semiconductor Phils (PSE:PSPC) last traded price as of 10 July 2015 is 2.13.

In a bigger pattern, $PSPC is forming triangle pattern which broke the resistance at 2.10.

The following bullish signs as of 10 July 2015:

1. MACD line has already crossed above the signal line while stochastics also indicate bullishness.

2. Based on ichimoku elements, short term trend has already escaped from the bearish trend, where the      last traded price is already above the cloud, TL is greater than SL.

3. Two support-turned resistance at 2.22 and 2.23 while another resistance at 2.24.

4.  Once the above resistance levels are broken, price action is possibly moving towards line of least resistance.

5.  There is another resistance at 2.46 (May 20, 2015 high).

6.  In a weekly chart, the last candle is a bullish one which indicates an upward signal in the trend. Midterm trend is still bearish but is already moving towards reversal of trend.

7.  The short term bullish trend strength is weak which may indicate sideways direction.  Price actions between the dates, May 28, 2015 to June 16, 2015 is showing sideways movement upon reaching the price level at 2.20 to 2.26.  Will it move the same direction while waiting for a catalyst?

Disclaimer: This article is for information purposes only. There are risks involved with investing including loss of capital. The information provided in the website is only an opinion of the author and  does not constitute as legal advice, research or recommendation to buy or sell any securities

 

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