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Ron Acoba is the co-founder and managing partner of He has been involved in the financial market since 2002. Technical analysis is his main tool in forecasting price action of equities and forex but he is also versed in fundamentals and financial analysis. He has an MBA degree... More
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  • Oriental Peninsula Resources’ (ORE) Scary Technicals
    oriental peninsula resources group inc., ORE philipine stocks, ron acoba, head and shoulders, daily stock picks, stock market trading

    Oriental Peninsula Resources Group, Inc.’s (ORE) performance in 2010 was stellar. Indeed, last year’s feat could be considered as one for the books. Unfortunately, this year’s story looks to be the exact opposite at least from the technical point of view.

    As mentioned, 2010 was a year to remember for ORE as it grew from PHP 0.85 all the way to a high of PHP 4.55! In an unlucky turn of events, its winning streak was cut short as it gradually slipped for during the first 4 months of 2011. It even fell to a low of PHP 2.4 before it was able to recover somewhat as it rallied to just above PHP 3.00. Still, ORE’s shares remain depressed as it resumed its downward journey.

    What’s worrying me is that when I looked at ORE’s bigger picture, technical indicators point to an even bearish outlook. Why? Well, if you look at the chart above, you will notice that it has been forming what appears to be a big complex head and shoulders pattern. If this is so and ORE broke its neckline then a journey towards PHP 1.50 at least would be a big possibility. Moreover, ORE is already exchanging below its 200-day moving average which of course is a sign of weakness. Another signal that suggest the same thing is the apparent crossover of the 50-day moving average (red line) under the blue one. See also that the 100-day moving average (pink line) is about to make a bearish crossover as well. On the positive note, if the neckline support holds, then ORE could just continue moving sideways.

    More on ...

    May 01 8:19 PM | Link | Comment!
  • Are The Banco De Oro (BDO) Bulls Back?
    banco de oro unibank inc., BDO philipine stocks, henry sy, ron acoba, cup and handle, daily stock picks, stock market trading

    Henry Sy-backed Banco De Oro Unibank, Inc. or BDO as it’s commonly known made some significant headway over the past two months. And it appears that BDO still has some more left in its bank for a move higher.

    The start of 2011 was not particularly well for BDO as its shares slid from around PHP 60.00 to a low of PHP 45.8 on February 23. From that point, it was able to pick itself up all the way back to PHP 54.00. After that, it consolidated for a while before it breached the PHP 54.00 resistance the other day. Since the start of the year, BDO was actually forming a cup and handle pattern which it broke last Monday. Now, if it can keep its head above the PHP 54.00 then it could head all the way to PHP 62.00.

    More on ...

    May 01 7:19 AM | Link | Comment!
  • Silver Corrects

    From $17 a year ago, the price of spot silver rose to an all-time high of $49.78 yesterday way faster than gold’s ascend. One factor is the Middle East unrest and many people who find gold expensive are moving to silver instead.

    As seen on it’s chart above, upon tapping $49.78 yesterday, the daily candle stick closed at $46.46. This is clearly a bearish candle signal and indicates a one-day reversal. True enough, silver continued to decline today and could do so in the coming days. However, this doesn’t mean that silver will continuously fall. In fact, its uptrend still remains intact and the price could further head back up once it finds some support. Like I always say, as long as the uptrend remains intact, the bulls will be on its side. In that case, catching the price at the uptrend lines and placing your stop loss below it would be advantageous. At its current chart, the immediate support could be around $44.00. Then after that could be $42.00. In any case silver bounces off those levels and heads back up, it needs to first retest it’s all-time high at $49.78 as heavy selling pressure will most likely be encountered at that level.

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    May 01 6:58 AM | Link | Comment!
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