Pacific Andes: Trading in A Symmetrical Triangle

  • Post author:

Pacific Andes is currently trading in A Symmetrical Triangle for a short term. Base on the chart pattern, it looks like Pacific Andes is going to breakout soon. Long term chart is still on an up trend. Fundamentally, Pacific Andes does not have any “wow” factory base on the financial result. Current PE of 16.1 is at its fair value but considered high compared to the past 3 years average PE of 9.1. Nothing fantastic financially base on FY2009 result:

  • Net Profit Margin = 7.6%
  • ROA = 2.2%
  • ROE = 4.8%
  • Current Ratio = 1.8

$0.305 is a significant level to watch. This is also a 61.8% Fibonacci Retracement Level and all three moving averages (MA). Breaking out from this Symmetrical Triangle will send Pacific Andes to either $0.35 (78.6% FR) 0r $0.24 (38.2% FR).

Continue ReadingPacific Andes: Trading in A Symmetrical Triangle

Pacific Andes – Testing Up Trend Channel’s Support

  • Post author:
Pacific Andes is currently testing the uptrend channel support at about $0.314. This channel support coincides with a significant 61.8% Fibonacci Retracement Level.

Things to watch out for:

  • Whether there is any trend reversal candlestick pattern to confirm Pacific Andes bounces off this support level. If yes, the uptrend channel is probably still in tact and the next resistance is $0.358.
  • If this $0.314 support level is broken, the next immediate support is $0.282 (50% FR Level). This level has been proven as a very tough resistance to break for past 4 occasions. This resistance turned support is a significant support level.
Continue ReadingPacific Andes – Testing Up Trend Channel’s Support