Philippine Stock Market – Update on selected stocks 02/09/2018

Philippine stock market

2GO – holding on the support provided by the Kumo at 18.90 per share. Test buy when you see a bullish candlestick formation this week.

AGF – may continue to move up following the strong rally last Friday that puts the price above the Kijun Sen line on daily chart. KSL or Kijun Sen line becomes the support at 3.72 per share in the event that price will retreat. On weekly chart, we can see a bullish pull towards 4.45 per share.

AGI – support at 15.18 per share was able to hold the price from declining further. It registered a 2.3% loss last week but may be able to bounce from the support this week.

ALCO – while on significant bullish or bearish signal in the short term, this stock is likely to just move sideways with its 1.00 – 0.82 per share range.

ALI – the support at 46.00 per share was broken as it fell by 4.1% week on week. If it goes up this week, expect some headwinds at 46.00 per share while support is at 42.00 per share.

ANI – buyers could still be able to push the price up but some gainers may cash in resulting to a balanced price movement at current level.

BDO – may settle near 147.20 per share while Kijun Sen line will provide support. Area of support may also extend to 145 per share. Test buy if you see a bullish candlestick pattern this week.

BEL – down by 3.7% last week and may continue to decline and find support at 3.54 per share. This support was visited few months ago. Test buy when you see a bullish candlestick pattern at that level.

BELLE CORP

BELLE CORP

BLOOM – made a strong finish last week as it rose by 9.6% week on week. Resistance is seen at 14.00 per share.

BPI – sideways with bearish bias due to the pull from Kijun Sen line on both daily and weekly chart.

BRN – Doji candlestick at the support area. This could mean a bounce for BRN. Either you wait for green signal or test buy at current level. Support extends towards 0.89 per share.

CLC – sideways within the bounds of the Kumo on daily chart.

CLI – it is currently trading within the suppport area but no bullish signal can be found yet. Better wait for it.

COSCO – still holding on at the support area. Could have a spike this week but may not be enough to reverse its sentiment.

DD – bearish sentiment is strong at this time after it dropped by 7.3% week on week. Support is at 36.00 per share

DNA – it registered a weak bullish signal via Tenkan Sen / Kijun Sen Cross. Test buy near 4.33 per share.

DNL – down by 3.6% last week and was saved by the support at 11.37 per share. There is still a threat at 10.20 per share.

EMP – sideways with bearish bias. Support is at 7.38 per share while resistance is at 7.88 per share.

EW – could make use of the support given by the Kumo to bounce from current price towards 30.50 per share but the spike may not stay for long.

FLI – down by 4.3% last week to close at 1.79 per share. Price may continue to drop and find support at 1.75 per share.

HVN – no bearish signal yet but RSI or Relative Strength Index is already high which suggests the stock is already overbought. Be careful.

IMI – went up as high as 23 per share but loses steam and settled for 20.85 per share at week’s close. A decline by 1.7% from previous week. It may move sideways this week with support at 18.00 per share and resistance at 22.00 per share.

ISM – broke the support provide by the Kumo on short term and no green light seen as of this time which means the decline of price may continue.

ION – closed at the high last week which suggests that the bulls are in control. Price may continue to move up this week. Resistance is at 2.25 per share.

JGS – shed 5% week on week following after it failed to break the resistance from the Kumo. It may move sideways but with bearish bias.

LPZ – while the stock is approaching oversold level, its good to monitor for bullish signal. Support is at 5.0 per share. Test buy when you see the green light.

LTG – sideways with bearish bias. The threat from Kijun Sen line at 21.14 per share could pull the price down.

MAC – may continue to move up this week but be careful as the stock is already overbought.

MARC – going towards 1.40 per share which is a strong support based on price movement history.

MAXS – sideways with bearish bias. If current support will be broken, next support is at 12.97 per share.

MBT – broke the support at 100 and 97.47 per share. Next support is 94.21 per share which is likely to be tested.

MRC – showing bullish sentiment on short term but mid term frame isn’t bullish just yet. Test buy once price will break from the Kumo.

MRP – sideways with bearish bias. Resistance provided by the Kumo seems to be a strong one for the bulls.

MRSGI – down by 4.9% to close at 3.50 per share. It broke the support and may continue to drop with some spikes along the way but not enough to trigger a good rally.

NOW – no bearish sentiment seen yet but the stock has already entered the overbought level so be careful.

NRCP – no bearish sentiment as of this time but the stock is already overbought so be careful.

PGOLD – down by 5.5% week on week and may continue to drop towards 48.00 per share. No green signal yet.

PLC – already at oversold level but no sign of life yet. The might be a spike every now and then but that will not be enough to reverse the sentiment. Could be back at 1.0x level.

TUGS – up by 5% last week to put its price above the resistance. Support is now at 5.45 per share while resistance is at 6.00 per share. Looks like there is still time to test the resistance this week.
Cavaet!

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