PCOMP worst case scenario: Head & Shoulders

PSEi	6,642.45
-0.88%	-58.91

 

Fig 1. Worst case scenario for PSEi

 

Fig 2. H&S pattern (from investopedia.com) 

Hope this doesnt happen.

FLI

FLI is trying to break its 1.5-1.51 resistance
if it does, I expect it to consolidate around 1.65-1.85
and if things go right it will probably go 2 and above.
Of course if it fails to break 1.5-1.51 resistance I expect this to go below 1.3

Did they bounce?

Reviewing my last 2 post before this one
s
ALI went as high as 29 then closed at 28.6, a 5.15% increase

FPH closed 3.05% higher than yesterday

AGI also increased by almost 4%

Well it seems everyone bounced as predicted, almost...

FLI with bullish hammer was sort of a failure, but I'll wait for price action next week before we say its a false bullish hammer.

FLI: BREAKING DOWN 'Hammer'

BREAKING DOWN 'Hammer'

A hammer occurs after a security has been declining, possibly suggesting the market is attempting to determine a bottom. The signal does not mean bullish investors have taken full control of a security, it simply indicates that the bulls are strengthening.

Source: investopedia

Will they bounce tomorrow?

I have written FIBOs/GAPs of ALI, FPH and AGI in my previous posts. Incidentally today, they closed within those figures.

ALI's

• Day Range 27.20 - 28.65 
• Gap closed (see previous post )

FPH

• closes at 50.8 within Fibo (61.8%): 49-51
• RSI 14!

AGI

• closes at 12.7 (Fibo 61.8%)
• RSI 19

ALI

gap 27.2-27.8

FGEN

FGEN closes at 18.5 below the 50% FIBO