Philippine Stock Market – Update on selected stocks 09/18/2015

philippine stock market

AC – weekly chart shows a bullish signal via Kijun Sen Cross when price broke the resistance at 759.25. This price is now our immediate support

ACR – registered a weak bullish signal last Friday after it went up by 6.9% and broke from the Kijun Sen line. Although most of Ichimoku elements are still in bearish positions, price may continue to go up. The newly found support may be tested so that will be a good area to test buy if you have done it last Friday.

ALI – Almost reached the 37.18 mark where the KSL is. It went up as high as 36.5 per share but wasn’t able to sustain its rally and close at 35.05 per share last week. It may still go up and touch the resistance since we don’t see any bearish signal yet.

AR – after reaching the higher range the previous week, AR went down by 5.2% Looks like the Kijun Sen line is just too strong for the bulls right now. Will it retrace and go back to 0.0047 per share?

BDO – managed to climb and reached the Kumo or Cloud. As of Friday there is no bearish signal as it reach the resistance. Could this continue and pierce the Kumo? RSI or Relative Strength Index about to enter overbought level on daily chart.

BEL – daily chart shows Kijun Sen line bending down. This suggests that the power of the line to pull the price is now gone.

BKR – while it is moving within the support area of 161.8% Fibonacci Retracement level, this stock have a spike.

BLOOM – no sign of life yet. This stock has been oversold for quite sometime now but buyers just can’t move the price up. RSI may be of interest but wait until there is a bullish candlestick.

BPI – after it broke down from the support, the bulls tried to push it above the newly found resistance but bulls wasn’t able to do it. Price may drop towards 82.x level

CAL – after few weeks of going down, did CAL finally found support at 3.63 per share?

CEB – made a strong move last week as it went up by 5.5% to close at 91.75 per share. Price broke the resistance at 89.65 and registered a bullish signal via Kijun Sen Cross. There is still room for price to go up

CEI – was able to make a come and close above the 127.8% Fibonacci Retracement level. This is our current support line. If this will hold then a great chance it will move up to 0.12 per share

CIC – weekly chart shows a confirmed Bullish Descent Block. Resistances to break are 47 and 50 per share

CIC

CIC

COSCO – weak bullish signal seen last Friday via Kijun Sen Cross after it broke the 7.05 per share resistance and close the gap. Newly found suport could be tested this week and if it will hold, price will continue to go up. Otherwise it will drop further. Strong resistance seen at 7.5 per share

CROWN – strong upward move for the stock last week when it rally by 9.2% to close at 2.85 per share. Although last Friday’s candlestick has a bearish nature, the fact that it went up and cross the Kijun Sen line, the bearishness brought by the candlestick is negated. For those who were not able to ride it last week may test buy near support line which is 2.79 per share.

DD – went up past 261.8% Fibonacci Retracement level. Looks like its not going to drop yet? Support at 19.75 per share. The stock is already oversold with RSI at 89.19 but no bearish candlestick seen yet.

DNL – moving sideways with bearish bias

EDC – was able to come back strong after visiting the 78.6% Fibonacci Retracement level on previous week. The gap has been closed when it went up as high as 6.41 per share but wasn’t able to hold above 6.08 per share which is our immediate resistance. Will there be more for EDC this week after the gap has been closed?

GERI – no interesting formation for now. Price may spike every now and then but without strong bullish signal it may drop to 0.94 per share eventually.

HOUSE – may continue to move up but will soon encounter a strong headwind when it reach the Kumo.

IS – the bears was able to stop the bulls from piercing the Kumo or Cloud. Based on daily chart, the Chikou Span is about to move above the price which, if it will happen, will register a bullish signal. It will happen if price will stay above 0.20 per share.

ISM – price was stopped by the Kumo. Will it continue to move up this week now that the stock is overbought?

JFC – sideways with bullish bias

LR – after successive ascend, last Friday gave a bearish signal via Doji candlestick. This signal suggests that the bulls and the bears are now in equilibrium. At this level, price tends to move down. If we will see a large red candlestick then bearish sentiment will be confirmed. Otherwise it will continue to move up and hit 9.40 per share.

MCP – good week for this stock after it bounce from the bottom. Immediate resistance at 5.59 per share. We will not get help from the Kijun Sen line this week though.

MCP

MCP

MEG – may move sideways after it wasn’t able to break the resistance but with bullish bias since the KSL is still moving horizontally at 4.85 per share

PCOR – has reached support slope. Will it be able to bounce from it?

PGOLD – continue to move sideways with bullish bias

PLC – the Doji candlestick the previous week was confirmed last week although its not a strong one as it close within the resistance area. Still, bullish sentiment is building up.

POPI – sideways movement with bearish bias based on weekly chart

PPC – no bullish signal yet so it may still touch 2.13 per share or worst 1.90 per share unless bullish candlestick will appear then it will rise to 2.56 per share

PSPC – sideways movement within 1.94 – 2.06 per share

RWM – we don’t have a bullish signal yet but the area where it is now is a good area to speculate for a bounce.

SBS – good rally for SBS this week but last candlestick is a bearish one. The Doji candlestick suggests equilibrium between bulls and bears. If it will be followed by a large red candlestick then price will retrace. Support is at 6.18 per share. RSI or Relative Strength Index is at 83.9

SECB – sideways with bullish bias

SMC – is currently at support level. The 127.2% Fibonacci Retracement level which acts as a support is a good area for possible bounce. But don’t get hurry it might slipped and drop to 34.47 Wait for a bullish signal

SSI – may continue to move up to test the 7.59 per share resistance. The bulls may get help from the Kijun Sen line that is moving horizontally at 8.3 per share

URC – sideways movement with bullish bias

VLL – weekly chart shows a bounce from 78.6% Fibonacci Retracement level. Does it have the power to move upwards? With Relative Strenght Index or RSI at oversold level, the bulls can push this up to reach 5.98 per share for it first resistance. Support is at 5.28 per share

VLL

VLL

Caveat!

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