Banks are slaughtered lately due to their "evaluations" by various Firms, I dont really say they are over-evaluated, everything just needs to be in a slow process that needs correction.
One of the good banks is BDO, BDO is also on a short term downtrend in BLUE lines, it really needs a good bounce upwards as its been oversold already with an RSI of 26.xx. Its short term dowtrend lines indicates support of around 50-52 which is a good buying opportunity actually, same as MBT, MBT did a good bounce, but for BDO, im not sure if it has a lot of fans with whaT MBT has.
Long term uptrend line : 50-52, breakdown of which could send it down to 40s, but I think its unlikely to happen as of early 2011.
RCB, the cheapest of all the big banks. Its been a laggard eversince the rally of the banks, and RCB was expected to hit 30s due to high earnings, but the huge correction of the banks made this stock consolidate again.
I have drawn the BLUE lines as its short term trend, a declining triangle trend, or any techincal term they use on it. This is actually my favorite trend line, breakouts of this kind of trend usually floats above anyone else. But as of now, what is scary is.. Its attempting to break down, as what other banks has been doing, break down of its short term trend, could send it down to 24-25. Still its Cheap and still in long term Uptrend.
Manny.. Money.. Manny.. haha.
MPI still long term uptrend, with support of 3 and resistance of 4.5-5.0. Short term, ive drawn a BLUE line of its possible path for the short term outlook. If it got to its possible lows of around 3.30 and below, Im surely a buyer here. especially that NLEX SCTEX and SLEX havent been reporting its additional earnings.
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