Philippine Stock Market – Update on selected stocks 01/19/2018

stock trading

2GO – down by 4.3% to close at 21.2 per share. Considered a test of newly found support. As long as 19.00 will not break, PRZ will still be achievable on this current trend.

AGI – the thread coming from the Kijun Sen line is still there while bullish sentiment has been maintained.

ALCO – a decline by 8.9% week on week shows how strong the resistance provided by the Kumo. Price may move sideways this week with possibility of a spike towards 1.02 per share.

ANI – bulls were able to control last week’s price movement and may continue pushing the price up this week.

BEL – range trade within 3.84 and 3.94 per share range

BLOOM – down by 5.1% and may continue to do so following the threat created by the Kijun Sen line at 10.32 per share. This will act as support once the price moves near it. Test buy near support.

BRN – newly found support last week was broken. Price may move down towards 0.96 – 0.89 area

CLC – we saw weak bears last week and bulls started gaining strength. Test buy near 8.40 per share or wait for a strong bullish candlestick. Support is at 8.40 per share.

CLI – the stock showing bearish sentiment after it failed to stay above Kijun Sen line at 5.04 per share. This area still stands as the resistance for this week. If this will be broken, next resistance is at 5.28 per share.

COSCO – back to its support. This support was tested last July and December of last year. Test buy when you see a bullish signal this week. Otherwise, leave it for now. Next support is at 7.20 per share.

COSCO

COSCO

DD – sideways with bullish bias. Spike could reach 44.00 per share

DNL – the strong bullish sentiment last week may continue this week with support at 12.56 per share. Bulls were able to bring the price up and above the Kumo which acted as resistance. In effect, it sends a green signal to the buyers.

EMP – hitting PRZ and completed the cup formation. Will it retrace to create the handle?

FLI – may continue to consolidate at current level this week. No significant bullish or bearish signal found.

IDC – sideways with bullish bias. Both weekly and daily chart shows Kijun Sen line moving horizontally which could trigger a price spike towards it. The spike could reach as high as 11.25 per share.

IMI – sellers could still bring the price down towards 17.36 – 16.80 per share while we don’t see any bullish signal.

ISM – has been moving sideways for quite sometime now. Will there soon be a spike now that the cloud is less dense?

JFC – closed at the high which means the stock is bullish. It is also trading at an all time high level so we don’t have resistance yet.

LTG – Up by 8.0% to close at 23.00 per share and could still move up towards 25.00 per share to challenge the previous resistance. Relative Strength Index or RSI is at 79.6

MAXS – still on consolidation mode. Sideways with bearish bias could happen this week.

MPI – bullish sentiment was felt last week and price may continue to move up following the bullish signal seen last week via Kumo Break.

MRC – down by 7.4% week on week with bears gaining control of the stock. The same sentiment will be felt this week. Support is at 0.29 per share.

MRSGI – downy by 1.1% but still within the support area. Relative Strength Index or RSI is at 27 which means the stock is oversold. Test buy when you see a bullish candlestick this week.

NOW – up by 42% week on week. This stock could still continue moving up this week to register a new high. Immediate support is at 4.0 per share which is considered the psychological support.

PGOLD – still bullish but needs to rest. Support is at 52 per share while resistance is still at 55.22 per share.

PIP – up by 9.8% last week approaching the Kumo which will act as resistance (see daily chart). Price could still go up to 2.68 per share before feeling the pressure from the sellers.

PIZZA – still showing bullish sentiment surpassing its PRZ at 14.50 per share which is also the resistance last week. Since it is now moving at an all time high level, we can only pick the psychological resistances as its resistance levels. First will be the 16.00 per share.

PXP – still brewing the cup formation. So far it is on its right track. Support is area is at 8.7 – 8.48 per share. As long as it will not be broken, cup will be formed up to 11 per share.

TUGS – could still move within 4.13 – 4.71 range while no significant bullish or bearish signal. Weekly chart suggests the stock is still bullish on mid term.

VITA – may continue its ascend this week after piercing through the Kumo last week.

WLCON – bulls are currently in control and could push the price up towards 9.50 per share where resistance awaits.

Caveat!

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