Thursday, May 8, 2014

Philippine National Bank (PNB) - May 8, 2014

Technical View
Weekly Chart
> Looks like PNB is forming a Potential Bearish Gartley Harmonic Pattern with PRZ at 105.87. The PRZ coincides with the Median Line of Andrew's Pitchfork.
> Support at 91 (50% Fibonacci Retracement).
> Resistance at 97 (61.8% Fibonacci Retracement).
Relative Strenght Index (RSI) - Based on 30-Day Period
> RSI is currently at 54.24.
> Looks like a Possible Bearish Bat Harmonic Pattern with PRZ at 65.15 is forming.
> Resistance at 55.31  (50% Fibonacci Retracement) and Lower Median Line of Andrew's Pitchfork.



















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