PSEI 2010 and Beyond :)

This is just my view of the PSEI based on my understanding on Fibonacci and Elliot wave. Triangles are typical of 4th wave of a five of an impulsive wave. I can see a possible breakout from this triangle which would possibly bring the PSEI to the fith wave that may rest on the 4800-5500 level. However, fifth waves sometimes fail to materialize so it is still not 100% assurance but if you look at the bigger picture, I think the fifth wave MAY come. After this, we may expect a 4-6month three wave correction OR More.

Just my thoughts.

UBP

When you examine Philippine banks, UBP should be one of the lowest in terms of PE ratio. Its eps growth has been consistent these past few years even through the 2008 crisis. Based on chart, its price movement can be likened to ABS in the beginning stages. Now ABS is in the level above its long term resting zone 46-56. Way above its 2007 peak of 38.5. UBP had its 2007 peak at 66 while long term resting zone is at 75-87 level. Its immediate resting zone is at 50-52 level.