Technical Analysis of Selected Blue Chip Stocks

* The stocks included in this list are the 10 most heavily weighted stocks on the PSEi.

Stock	Close	Support	Resistance	Trend	Recommendation
AC	352.00	350.00	358.60 / 372.00	Up	Hold as long as support holds
Correcting back down from its peak at 363.00 but may continue to trend up if support at 350.00 holds.
AEV	41.50	40.50	41.85	Sideways	Buy if breakout / Avoid if breakdown
Trading within a very tight range of between 40.50 and 41.85. Expect a big move to occur soon either up or down.
ALI	17.70	17.10	18.60	Up	Hold
Appears to have formed a trough at the 17.10 level. Poised to climb up towards 18.60?
BDO	59.95	59.50 *	61.30	Sideways to Up	Avoid if breakdown
Formed a bearish lower high at the 61.30 level. May drop back down if minor support at 59.50 breaks.
BPI	60.15	59.80	60.80 to 61.50	Up	Hold
Continuing to climb up but rate of ascent is declining.
MBT	76.35	76.30 *	77.80	Up	Buy if breakout only
Correcting back down from its peak at 77.80 but may continue to trend up if resistance at 77.80 breaks.
SM	622.00	610.00 *	635.00 / 650.00	Up	Hold
Trying to hold above the 610.00 level. May continue to climb further towards 650.00 if it breaks out above 625.00.
SMC	117.80	116.00	118.40 / 122.50	Sideways	Trade the range
Holding above the 116.00 level but may just continue to consolidate for now.
SMPH	15.20	14.20	15.80	Sideways to Up	Trade the range
Strong rally off its trough at 14.20 but may just consolidate for now below 15.80.
TEL	2740.00	2630.00	2886.00	Sideways to Up	Trade the range
Strong rally off its trough at 2630.00 but may just consolidate for now below 2886.00.

Important Notice - The recommendations above are intended to be used by Tsupiteros only or those whose holding periods are between one day to two weeks. Those who would like to position for a longer period should not follow these recommendations.

Legend - + recommend to buy if resistance is taken out to the upside
* recommended stop