Bad News from Wall Street:
Wall Street’s rally stumbled over the past week as investors were caught off-guard by data highlighting inflation concerns, and amid caution ahead of Tuesday’s congressional election.
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Local Front:
On the technical perspective, the local bourse is certainly bullish, as indicated by the daily/weekly MACD. However, the mounting overbought reading of the daily/weekly slow-stochastic momentum indices and the 14-day RSI suggest that our market is due for correction, and any pullback is likely to be shallow and healthy, giving investors the opportunity to accumulate more.
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TOMYPAK
Strong uptrend. Testing resistance 0.69/0.70.
For 3/11/2006 the closing price was 0.665.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 0.73.
The projected lower bound is: 0.61.
CUT LOSS: 0.60
PA
Testing resistance 0.84. Target 0.87.
For 3/11/2006 the closing price was 0.8300.
Overall, the bias in prices is: Upwards.
The projected upper bound is: 0.88.
The projected lower bound is: 0.79.
CUT LOSS: 0.75
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