LND – Bullish Swing Continues, Breaks Out From Pennant Formation and New 2.5 Year High

After a major news event for LND, with AGI becoming a major investor, LND has resumed its bullish momentum, after consolidating between 1.51 and 1.27 during the last two weeks. Breaking out from the 1.51 resistance of what appears to be a pennant continuation pattern, LND seeks to target the 2.10 target, when measuring the pole of the pennant.

Last December 9, 2010, LND broke free from a symmetrical triangle formation, before breaking out from what apparently is a two-year cup and handle formation at 0.87. And now, LND also has surpassed the last peak established at 1.48 in 2007, signifying that most of the ipits all these times are now gone, or are now unwilling to sell.

Stops should be placed just below the 1.38 levels. Enjoy the ride!

Pinoy Stock Trader

SMB – Breakout From Ascending Triangle Imminent?

SMB looks to be poising for another bullish runup, as it tries to take out the key 32.00 ascending triangle resistance. After consolidating within a volatile range of 20 and 32 for at least one month, SMB has finally made a bullish move to break free from this consolidation.

With the PSEi down by at least 2%, SMB managed to gain an impressive 8.4%, to close at 31.45, after retesting the 32.00 key resistance line. It would be interesting to know if SMB will breakout from the triangle, and continue consolidating within the range. If SMB manages to breakout from this level, technical target is at 46.00 level, within a one-month holding period.

As always, with every trades, always put stops. And in this case, the stop level should be placed below the 28.00 support level.

Pinoy Stock Trader