Philippine Stock Market – Update on selected stocks 01/12/2018

Philippine Stock Market

2GO – pierced through Kumo which is a bullish signal based on Ichimoku principles. The bounce was last seen at 61.8% Fibonacci Retracement level. If the new support will hold, we could see this stock at 40. The immediate support is the Kumo. There are at least 5 big resistances before hitting the PRZ so pay attention with those resistances.

AGI – while it is in a bullish position based on weekly chart, the threat coming from the Kijun Sen line is there ready to attract the price and create a pullback. Nonetheless, this is a healthy movement that one can exploit.

ALCO – the stock is up by 14.8% week on week with price touching the resistance created by Kijun Sen line and Kumo. If you were on it last week, might as well observe the movement before adding more shares. Support given by 61.8% Fibonacci Retracement level is still valid so in case it will turn sour, that will be your main support with backup support at 0.90 per share.

ALCO

ALCO

ALI – continues to move within its trading range with lower range pegged somewhere at 42.x per share and higher range at 46 per share. Last week the bulls overcame the resistance but failed to sustain its rally. There will be another test this week.

ANI – it went as low as 10.46 per share last week but the bulls was able to carry the price back to its support area at 10.7x The stock is still bullish if you look at the weekly chart. The current support may dictate the course of the price in the mid term.

BDO – have been on the rise since it broke its resistance July of last year but currently looks exhausted. Although we don’t have a major bearish signal just yet, be prudent.

BEL – the resistance at 4.00 per share has been tested many times but bulls continue to fail. Bullish sentiment is still there but diminishing. Bulls full strength must be felt this week in order to break this resistance.

BPI – if you buy and forget BPI last 2000, then you just hit the break-even after 17 years (not considering dividends though). With Relative Strength Index or RSI at entering level, this stock may move sideways.

BRN – broke the 1.07 per share resistance last week and may continue to move up towards 1.2x per share unless the newly found support will be broken during the test. Test buy near support if you want to ride the wave.

CLC – last rally of this stock was when it hit 8.3x and we saw a Bullish Piercing Line. This time the price is again visiting the same spot. Let’s wait what the next candlestick would be. Test buy when there is a bullish formation. See daily chart.

CLI – bulls are gained strength last week and may continue to do so with but observe how the 5.04 per share resistance would affect the price movement. That is Kijun Sen line making a resistance at 5.04 per share

COSCO – the stock has been in bearish mood for quite sometime now and may continue to be on that state. Nothing remarkable thing can be seen on the chart that will lead us to think the stock will reverse its sentiment soon.

DNL – price may continue to go up this week with possibility bullish signal to be shown at the end of the week.

EEI – may continue to move up and hit its PRZ at 16.63 The retrace last time that went as low as 78.6% Fibonacci Retracement level lead us to think of that PRZ value. But of course it won’t be a straight line going up.

EMP – approaching resistance area which have been a strong one since 2016. Could bulls pull this off this time?

HLCM – while this stock has been declining whole year long last year, we don’t see any reversal signal yet. Relative Strength Index shows the stock is oversold with 20.36 RSI points but other than that, there is no bullish signal. Major support is at 8 per share.

IMI – this stock may move sideways for now while no significant bearish or bullish signal.

JFC – still very much bullish but may move sideways within 250 – 260 per share range.

JGS – based on its weekly chart, weakening of the bulls is obvious as it enters the Kumo. A strong push that will bring the price outside the Kumo is needed to sustain the health of the bulls.

LTG – is taking a breather after the 10.3% rally last Monday. Moving sideways for now to gain some strength before continuation of the rally is what the stock has been showing in the last 3 trading days.

MAXS – it has been in a sideways movement for quite sometime and bears have been gaining strength. If it falls, major support is at 13.00 per share.

MBT – no bearish signal seen yet and its PRZ at 115.x could still be achieved.

MEG – sideways with bearish bias.

MPI – there seem to be a looming derailment from the current channel MPI has been following. Bears are gaining control at this time.

MRC – sideways with bearish bias as it failed to maintain its position above the Kumo or Cloud. Chikou Span line also failed to move above the price movement which could have been a green signal for the stock.

MRP – bears are gaining control at this time but if support at 7.67 will hold, bears could take back the control and push the price up towards 9.15 per share.

MRSGI – support at 3.6x level has been holding for this stock. After the fire incident of the company, its only a 3.7% decline on its price. If you see a bullish candlestick formation this week, test buy.

NOW – the resistance at 3.07 has been a strong one for NOW. Sideways with bullish bias could happen this week as it tries to break that wall… again.

PGOLD – is taking a breather on its last 3 trading days after the rally last Tuesday. Bulls are currently in control and may soon continue to push the price up and challenge the resistance at 55 per share.

PIZZA – up by a total of 7.7% week on week. The bulls are still in control and could push a little more to reach 14.x level.

PLC – sideways with possible spike towards 1.48 per share where Kijun Sen line is.

TUGS – sideways within 4.1x and 4.7x range.
Caveat!

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