STOCKWATCH: Third week of August

TEL

PLDT after crashing the head and shoulder bottom formation this month, it never look back and from 2490, it shoot up and closed at 2745 last friday(Aug. 15) ten pesos lower a day before. MACD is bullish, RSI at 72, STOCHASTIC at 88.4 so expect some more corrections this coming days...
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GEO

GEOGRACE RESOURCES PHILIPPINES, INC.'s chart shows a double top formed from Feb. of last year up to Jan. of this year. This is one share going downhill, slowly but surely, so avoid investing on this one specially for long term purposes.

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PNB

PHILIPPINE NATIONAL BANK's chart is in the process of forming a double bottom and currently above it's downtrend line trading when it break loose last August 7 (see chart above).
If it fails to break 39/41 resistance and drop, then a double top formation is possible which is bearish, but I feel positive about PNB, WHY?
First: It has broken it downtrendlines, only this month.
2nd: Positive News : PHILIPPINE National Bank, a bank owned by taipan Lucio Tan, registered a net income of P813 million in the first six months of the year, up 31 percent year-on-year, bucking an industry trend. http://www.manilastandardtoday.com/?page=business3_aug15_2008
3rd: Positive News : Officials of the Philippine National Bank (PNB) have filed the Plan of Merger and Articles of Merger with Allied Banking Corporation (Allied Bank) with the Securities and Exchange Commission (SEC). It was eyed to further enhance the competitiveness of the merged entity and bring them as third among the countrys private banks in terms of local branches and fourth in terms of assets as well as loans.
http://www.tradingmarkets.com/.site/news/Stock%20News/1794112/

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AC

AYALA CORP.'s chart shows a break out that occur last month from a falling wedge.
It's price closed at 315 last friday. MACD remain bullish, RSI at 62 and stochastic at 70.97.