Philippine Stock Market – Update on selected stocks 10/07/2016
ALI – sideways movement where price may go back to previous support around 37 which is its lower range. Upper range at 40 per share.
ANI – consider a few headwinds this week while price is inside the Kumo. Sentiment is still bullish especially once it crosses the Kijun Sen line at 4.11 per share. For now, that is our immediate resistance. Supports are at 3.80 per share and 3.54 per share.
ARA – sideways with bearish bias. Trading range is at 2.74 – 2.42 per shhare
BDO – looks like the bearish sentiment is wearing out although we don’t see bullish candlestick formation yet, there might be one at the end of this week.
BEL – continues to move inside the Kumo. Will there be a breakout this week?
BHI – Kijun Sen line at 0.0865 is still a threat.
BLOOM – bearish sentiment is still there but bulls may try to bring the price back on track with its upward trend which we saw a damage last two weeks ago.
BPI – may continue to correct this week. It fell by 1.6% to close at 103.3 per share last week.
BRN – sideways with bullish bias. Kijun Sen line at 1.28 per share may pull the price up.
CAL – support at 61.8% Fibonacci Retracement level was able to hold but price may only move sideways because of the Kumo that act as resistance which is just close to support.
CEB – Kijun Sen line at 105.5 per share was able to support the price last week from falling. But we don’t see bullish signal as of this time so it may not yet a good time to buy. Wait for the signal instead.
CHP – is consolidating within the triangle. Price may move back to its support line at around 11.5 per share
COSCO – still moving inside the upward channel although we might see price to move closer towards the support slope.
CPG – sideways movement seen while it is still inside the Kumo or Cloud. A possible spike towards 0.635 per share could happen with the help of Kijun Sen line.
CROWN – range trade within 2.135 an 2.05 per share
CYBR – broke the support at 61.85% Fibonacci Retracement level. Price may conitinue to move down. Next support is at 0.53 per share. The broken support is now our newly found resistance.
DD – weak bearish signal seen last week after the price close below Kijun Sen line. This may continue to fall
DNL – sideways with bearish bias because of the threat from Kijun Sen line. Unless DNL will close above 12.26 per share then this threat will be gone.
EEI – is back at previous support. Will it bounce from this level?
EW – price went down by 5.6% to close at 18.88 per share. Support is seen at 18.65 per share which means EW is currently near its support. If there will be a bullish candlestick formation at the end of this week, test buy. Otherwise stay away.
FGEN – bearish sentiment starts to creep in. Price may move towards the Kijun Sen line at 23 per share.
FOOD – may continue to drop as we don’t see any bullish candlestick but its good to monitor once it hits the Kumo. Test buy if you will see a bullish candlestick at support.
IDC – flat Kumo continues to pull the price down and we don’t feel any bullish sentiment as of this time.
ISM – price tried to break from the Kumo last week but failed. There is still a chance it will break this week. Next resistance after the Kumo is 1.68 per share while support is at 1.43 per share.
LPZ – sideways with bullish bias.
LR – after moving up by 25.2% the previous week, bullish sentiment starts to dissipate. We need to see a confirmation before we can tell that the bears is taking control. Resistance is at 5.7 per share.
MAXS – sideways with bearish bias
MCP – sideways with bullish bias
MEG – sideways with bearish bias. There is a greater tendency it will continue to fall. Range is still at 4.5 – 4.9 per share.
MPI – may continue to move up and challenge again the 7.6 per share resistance
MRC – pulling power of Kijun Sen line is strong as of this time.
MRSGI – Kijun Sen line pulls the price down by 8.7% to close at 5.15 per share. There is a support at this level but the threat from Kijun Sen line at 4.85 per share is still there.
PGOLD – bearish sentiment is still evident. Support is at 40 per share
PHA – bounce from support slope. It went up by 4.9% last week and may continue to move up but could face a strong headwind as it approaches to 0.47 per share or at Kumo. But trades are too small so play with extra caution.
PLC – sideways with bearish bias
PXP – is currently facing a headwind. Price may move sideways but bullish sentiment is still there. Resistance is at 3.90 per share.
SBS – sideways movement may continue this week with range 5.87 – 6.44 per share
SLI – may continue to move up this week and challenge 1.15 per share.
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