This blog is committed to the serious study and valid understanding of technical analysis and its objective application to stock selection, risk management and execution primarily in the context of trading stocks listed in the Philippine Stock Exchange (PSE).

Tuesday, May 13, 2008

DJIA 5/12/08 STOCK MARKET TECHNICAL ANALYSIS

*** PRICE AND TURNOVER
Close: 12,876.31
Change: +130.43 (1.02%)
Volume: 608.6M

*** MARKET BREADTH
Net Advancing Issues: +1426
Net New Highs: -2
Net Up Volume: +1,558,484,062

*** TECHNICAL ANALYSIS
After a 5-day downswing, the Dow attempts to find support close to the minor advancing trendline. Odds are in favor of the index continuing to move within the bounds of theascending price channel. | MAJOR CONSOLIDATION * INTERMEDIATE DOWNTREND * SHORT TERM UPTREND: Prior support 12250 | Provisional support 12740 | Prior resistance 13132 |



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