My favorite UPM

My favorite UPM. Lazy lousy stock... but one of my favorite for months now (including another questionable favorite UW). Why? Its very predictable and its giving me regular profit just moving in and out on its up and down movement. I was asked once what's in the chart. Here you'll see it's out of the major downtrendline but slopes down with that trendline inside a downward channel. A new upward trendline is being monitored. Unless a new direction will be created, you can play UPM following those lines. It's easy to be with the play with small volume for it is more predictable and satisfy the itchy fingers you've got there.

UPM Breakout today!

Yipee! UPM breakout today at 0.0090. At the current level of .011, my position already gained 50% from entry if I only hold(Previous UPM disclosure here). But since I believe that this is heading up but too slow to reach break out point, so I traded this along the way to satisfy the itch of my hand to trade and also to brush away the impatience during price consolidation (Example buying .0075 and selling at .0080 repeatedly). Thus, gain is already at 61%.

I started holding and accumulating more at .0085 when volume is already building up, already looking forward a breakout. And it did breakout today. My wish for tommorrow is for UPM to close at ceiling price which is easy since each fluc is already at 9% percent gain.

Personal Disclosure

Just have some time tonight and bored surfing the net, I decided to post disclosure on the trading that I made for the week. I might be doing this regularly (might if my time permits).

I have seen some stocks fly and I was afraid to chase the prices so I didn't get into position. I decided to look for other penny stocks that are left behind and might have the potential to be 3bagger for this third quarter.

In my penny stock scan, I noticed a positive divergence of MACD versus price on UPM. I position a little at .0075 though the number of shares sounds too big (each lot is 1,000,000 shares. The volume is so thin but the price slowly creeps up.

On risk reward ratio, I get in at 2 flucs away resistance downtrend line. The trough is 3 flucs below my entry so I'm not compliant with the rule of 1:3 risk reward ratio. I just have this feeling that there's a greater chance of breaking the resistance line so I position anticipating a breakout. Cross fingers that I'm correct.

Dow is still holding

Many are worried that DOW fell already from support. Remember the breakout from the second downtrendline (pls click here to see old post)? Let us now zoom in at the junction (see chart at the left). That line is holding well. Yesterday's drop was catch by that line and bounce back to form a doji. That's my good news for you. The bad news- though the line is catching it, the line is on a descending slope. Nye!!!!!!!! So the support is going down. The current DOW level still calls for caution. If that support line will break, it will cause panic and fear again. Today, that line is a little below 8400.

MEGa channel support

MEG is moving inside an upward bias channel. Did you notice that MACD gives a red signal everytime price touches the channel. Note 3 and 8, 5 and 9, and 7 and 10. Let's see if MEG will bounce at the channel support and stay inside the channel. If it does, then its a perfect entry since reward is 3X higher than risk. Pls note the volume on OBV. Many are just holding. No exodus of the real investors who intend to hold for loooooooooooooooooooong.

Let's Cee LC

The gap should serve as support. If its broken, the line support will be the next catch. I regret I haven't look at the chart earlier for the OBV have given an obvious signal even before the actual breakout from the consolidation channel happened at .10.   It's risky to position at this level. Only for the very quick tsupitero.

Oj_z congrats!

DJIA - Untog or breakout

I'm bias on untog. I feel that there is still a third line that is to be formed on that junction of the opposing force of the upward and downward arrow. That third line might complete the whole downward trend then we go to the next bull run. The third line could be short than the second downtrend line but angle might be bigger. The second downtrend line takes a year. How much kaya ang third line? My wishful thinking -3 months and no lower low, just a double bottom.