May 222017
 

Gaming companies BLOOM, MCP and PLC has received a lot of boost from the market for the past year. RWM seems to be lagging behind as it continues its bottom formation although there are signs that it’s build momentum to breakout. LR is still on a spiral down without signs of recovery yet.
 
Entry levels in BLOOM as it pulls back to consolidate in the near term:
Screen Shot 2017-05-22 at 14.25.50
 
BLOOM’s weekly view. Major resistance is at 13 to 14 levels:
Screen Shot 2017-05-22 at 14.26.52
 
MCP bounced off 38.2% retracement last week but it doesn’t discount possibility of a pull back. Here are entry levels on MCP:Screen Shot 2017-05-22 at 14.28.53
 
MCP’s weekly view. It continues to trend upwards. Major resistance at 11.00
Screen Shot 2017-05-22 at 14.31.35
 
PLC’s daily is show a near term consolidation. Pull back can be deeper than the existing lows which will serve as good bargain levels.
Screen Shot 2017-05-22 at 14.33.23
 
PLC in weekly view. 1.88 to 2.00 seems to be the next major selling areas.Screen Shot 2017-05-22 at 14.36.08
 
RWM has plunged deep but seems to have bottomed out since late 2015. 4.00 is the major resistance for now. Break of 4.00 may cause this to trend.
Screen Shot 2017-05-22 at 14.37.30
 
For a swing trader, the recent strong move of RWM signals momentum. Pull back has reached 61.8% retrace. Good for a short term trade.Screen Shot 2017-05-22 at 14.39.34
 
LR seems to be making lower highs in the weekly. Recent move or LR kept it from making a new low. Could this be the start of it’s bottom formation?
Screen Shot 2017-05-22 at 14.41.08
 
LR daily view is showing a good setup for swing traders. 4.00 to 3.75 seems to be great entry points.
Screen Shot 2017-05-22 at 14.43.42
 
Given the scenario, BLOOM, MCP and PLC are good candidates for swing trades. RWM may be good for a position trade. LR is still good for quick trades although riskier than the leading 3 gaming companies.

Hanson

Hanson is a Certified Securities Representative in the Philippine equities market. All posts herein are personal views and are not endorsed by any organization whatsoever. It is important that you practice due diligence in your trade plans. This website and its authors will not be held responsible nor liable to any of the reader's losses.

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