MPI Bought on 8/10 @ 3.03

 

chart from pse.com.ph

On 8/10, the stock opened at 3.06, bought my shares at 3.03, before going down to 2.98.  This was again a buy signal from Tsupitero.com with MPI having a sideways to up trend.  Later on DS of FM had this listed on his top 5 picks for the week.  According to DS, "MPI had a core 1H net income of 1.9B was 2.7X of 2009 income Php 716M attributable to Meralco and Maynilad contribution."

Considering the negative sentiment brought about by the drop in DOW last 8/12, MPI dropped only a bit to 2.91.  The next day was a turnaround as it began its up trend leading to today's high at 3.43.

Since MPI is now on a safe zone for me, I am now eyeing when to exit.  As seen on the RSI chart above, it has now reached 77 indicating overbought conditions.  Likely, it will consolidate soon to a new low.  I plan to sell it ASAP tomorrow while it's high.up:gucci bags

As of 8/19
close: 3.42
EMA: 3.03
RSI: 77.155

Target exit price: 3.45

Update:  on 8/20, with the drop in DOW, I sort of panicked and wanted to sell ASAP before prices go way down.  Sold my shares at the opening @3.37, a cut profit with 11.22%.
Interesting turn of events.  From a low of 3.34, it eventually pulled back up to a high of 3.46.  The whole PSE Index was even on the green.