Philippine Stock Market – Update on selected stocks 10/06/2017

Philippine stock market

AC – up by 4.6% last week to close at 1015 per share. There is no bearish signal as of this time but the stock is already overbought so be careful.

AGI – sideways with bullish bias

ALCO – down last Friday by 3.4% fueld by selling pressure due to profit taking but overall up by 7.7% last week. The price is still inside the Kumo but a pressure from Kijun Sen line may help the buyers break from the Kumo. Resistances is at 1.18. and 1.24 per share. Test buy current level or at 1.10 per share where Tenkan Sen line is.

ALI – may continue to drop and find support at 42.00 per share. The stock is still bullish so any drop is a welcome development.

ANI – broke the 10.00 barrier and is now within the PRZ or Potential Reversal Zone which we pegged at 261.8% Fibonacci Retracement level.

APBearish One Black Crow candlestick pattern seen last week after it dropped by 3.2% to close at 41.50 per share. Interestingly, Tenkan Sen line is about to cross Kijun Sen line which is a bullish signal. One may wait if the 41.00 per share will be broken before proceeding with his buy or sell order. This is its support. If a bounce will happen, then it will continue to rise. If broken, it will seek support at 40.00 per share.

APL – refuses to decline last Friday. It may instead move sideways to loosen up RSI

BEL – sideways with bearish bias. Chikou Span showing bearish signal and Kijun Sen line seems not easy to break as of this time.

BHI – sideways with bearish bias.

BKR – after successive rise that pushed the price as high as 3.24 per share during its trade the previous week, last week’s price movement suggests that bears are starting to gain control. This is depicted by the Engulfing Pattern we see on weekly chart. If this will be confirmed, Price will drop and may seek support at 2.4x per share. RSI or Relative Strength Index suggests that the stock is already overbought.

BLOOM – shows early signs of bearish sentiment with the weak bearish signal coming from the Chikou Span. Current held at support level 10.48 per share but may break this weak support. Strong support is seen at 10.00 per share.

BPI – sideways with bearish bias.

BRN – touched the 78.6% Fibonacci Retracement level and showed bullish bias at week’s close. The previous support is still there and you may test buy near it or at current level.

BRN

BRN

CEB – broke the support but Kumo is there to the rescue. There is no bullish signal so the trip to 120 – 125 per share may put on hold for a while.

CEI – may continue to drop and find support at 0.216 per share.

CLC – the Kumo proves to be a strong resistance for CLC. It went up during the week’s opening but failed to break the resistance provided by the Kumo. Bulls will try to push the stock this week.

CLI – no bullish candlestick pattern seen yet but price closed at support provided by the Kumo. Will it bounce at this level? Better wait for bullish candlestick pattern first.

COSCO – continues to struggles getting inside the Kumo but at least the bulls didn’t give up and close the stock with fairly equal strength with the bears. Another test may happen this week. Support is at 8.40 per share if things get rough.

DAVIN – up by 8.7% to close at 7.00 per share. Bullish signal was formed by Kumo Break. Last Friday’s action at the closing shows selling pressure due to profit taking. This may not affect its current sentiment which is bullish.

DD – continue to move sideways but this time with bullish bias.

DFNN – sideways with bullish bias.

EEI – last week’s price movement shows indecisiveness between the bears and the bulls. This could lead to bulls taking control this week. Test buy at current level or wait for a green candlestick formation.

EMP – Tekan Sen / Kijun Sen Cross seen last week. Is it going to be a good week for EMP?

EW – sideways with bullish bias.

FLI – currently supported by Tenkan Sen line but may not be a strong one. Support at 1.92 per share looks strong.

FNI – sideways with bullish bias. Bullish signal Tenkan Sen / Kijun Sen Cross created the previous week is still there.

GERI – sideways with bullish bias.

HVN – breached the 16.96 per share resistance and showed strong bullish signal via Kumo Break and Kijun Sen Cross. Price may continue to climb this week. The stock is not yet overbought.

IDC – Kijun Sen line at 4.70 per share may pull the price down but the stock still has a bullish sentiment so any drop is a welcome development.

IMI – range trade within 18.10 and 19.84 per share. The range is quite wide so you may play with this range.

JFC – sideways with bullish bias.

JGS – sideways with bearish bias.

LMG – strong bullish signal via Kumo Break. Price is likely to continue with its ascend this week with a test to the newly found support at 5.80 per share.

LPZ – no bullish signal found yet. Don’t be too excited to get in.

LR – still sitting at the support slope. Test buy at current level or wait for the bullish candlestick pattern.

LTG – sideways with bullish bias at this time.

MAXS – range trade between 17.65 and 21.32 per share. No significant bullish or bearish signal.

MEG – may continue to consolidate this week. Still need to to loosen up the RSI.

MPI – continue to respect its current upward trend.

MRC – refuses to continue working the the current trend. Time to change course?

MRP – sideways with bullish bias. Kijun Sen line at 8.35 per share may pull the price up.

MRSGI – no significant bullish or bearish signal. Price may just move sideways.

PGOLD – no bearish signal found yet but the stock is already overbought with RSI or Relative Strength Index at 87.4 Time to loosen that RSI. Bullish sentiment is still intact.

PHEN – sideways with the possibility of a spike towards 1.96 as Kijun Sen line starts to move horizontally.

PIZZA – retains its bullish sentiment with support at 13.25 per share and resistance at 13.80 per share

PLC – broke from the support and dropped by 6.8% to close at 1.50 per share. No bullish signal found yet.

PNX – continues to consolidate within 11.91 and 12.74 per share. No bullish nor bearish signal formed last week.

PXP – sideways with bullish bias. Bullish sentiment is still intact.

RWM – range trade within 4.00 – 4.30 per share range.

SBS – up by 5.2% to close above the Kumo or Cloud. This is considered a bullish signal. Price may continue to go up this week with some traders cashing in profits.

WPI – may continue to move sideways within 1.20 – 1.40 per share range.
Caveat!

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