Is it a head and shoulders formation (3 arcs: The head is the biggest red arc and the shoulders are the arcs beside it) that we are seeing in TEL at present? This we don't know until it breaks down from the neckling (red horizontal line). Click image to enlarge!
The Philippine market has been in a slump as a reaction to the US financial crisis. DJI, the U.S. market's major stock index, had been tremendously declining for quite some time now. As we can see in the chart, DJI broke down from a head and shoulders formation (3 arcs: The head is the biggest red arc and the shoulders are the arcs beside it). It made a rising wedge (emphasized by the 2 short diagonal lines) which bounced from the neckline (longest red line) and easily achievied the minimum target (red dotted vertical line) of 9,500. After a while, it just duck dove all the way to the 8,000 area as a result of continuing bad news on different companies. At present, DJI is around its major support (violet line). If backed up by good news, we might be seeing a rally in the next few days because of the doji-looking 1 day reversal with its latest candlestick (red circle on the 3rd picture). Click image to enlarge! 
The price of GLO is currently standing on its 6 year support (violet line). Is the price going to break the support and go down or is it going to bounce from the support and eventually go up? That we don't know, it really depends on how the foreign markets and the US economy will fare since the Philippine market just reacts to it. Click image to enlarge!
From the last post about DMC, it had failed to bounce back from its previous support (violet diagonal line). Until when is its price going to stop falling? That we don't know. As we can see, it's possible that it can touch any of the incoming support lines (three violet horizontal lines) before it bounces and head up again. We also need to take into account that it can even go way pass the supports (three violet horizontal lines) and drop furthermore. Click image to enlarge!
