Philippine Stock Market – Update on selected stocks 10/14/2016

philippine stock market

AC – bearish sentiment is still there as price went down by 2.3% to close at 840.50 per share last week. Kijun Sen line at 815.50 per share may continue to pull the price down.

ACR – daily chart shows the gap created last May has been closed last Thursday. Is it ready to bounce?

AGI – no bullish candlestick as of this time but price is resting at 161.8% Fibonacci Retracement level. Interesting area to test buy especially if bullish candlestick emerge. RSI or Relative Strength Index is at 24.28

ALI – it went back to its lower trading range. Price movement may continue with this setup this week which we set its trading range ate 37 – 40 per share.

ALT – sideways with bullish bias. We could experience a spike this week. Monitor for some good play.

ANI – sideways with bearish bias after it hit the resistance slope last week and failed to break it.

ARA – created a new trading range which is 2.41 – 2.00 per share after it broke the 2.74 – 2.41 range. If price will respect its new range, we don’t have much upside as of this moment as it is near the resistance.

BDO – weak bearish signal from last week’s price movement. Price crosses the Kijun Sen line from above. We might see a continuation of bearish sentiment this week.

BEL – weekly chart shows a bearish signal when price broke the Kumo but last Friday’s price movement shows the bulls trying to bring the price up. If we see a confirmation of that bullish pattern, then we might see price to close the gap but that is just too near to have a good upside.

BHI – sideways with bullish bias. Test buy at current level. Just monitor the support at 0.0865 per share

BLOOM – bulls may continue to bring the price up to climb back inside the upward channel. We have also seen a weak bullish signal last Friday via Kijun Sen Cross. Test buy near support at 5 per share.

BLOOMBERRY

BPI – sideways movement within the 107.83 – 101.22 range

BRN – sideways with bullish bias

CAL – daily chart suggests a possible spike in continuation with last Friday’s movement but weekly chart shows more bearish sentiment. This means a spike may happen but short-live only.

CEB – weak bearish signal via Kijun Sen Cross seen on weekly chart. Price went down by 3.9% to close at 103.8 per share. A short-lived rally may happen due to last Friday’s movement but may only be used as a fire exit. Support is at 99.5 per share

CHP – went down by 5.8% last week. Let it bleed for now.

COSCO – may continue to move up this week as the Kijun Sen line and Kumo attracts the price.

CROWN – sideways with bullish bias as it narrowed down the triangle formation.

CROWN

CYBR – we saw the 0.53 per share support two weeks ago at 78.6% Fibonacci Retracement level and price visited it last week before we saw some push from the bulls. Are we going to have a good run this week? Test buy at current level.

DAVIN – sideways with bullish bias.

DD – sideways with bullish bias. Resistance is at 54.90 per share

DMC – may continue to move up and challenge again the 13.00 per share resistance.

DNL – went up by 3% to close at 10.98 per share. Bulls are still there and may push the price up towards 11.43 per share where Kijun Sen line is. Support is at 10.47 per share

EEI – sideways with bearish bias

EW – daily chart shows bullish candlestick pattern at 161.8% Fibonacci Retracement level which is our support. Weekly chart shows KSL provided a good support at 18.65 per share. To those who tested last week, you may continue to hold. Next resistance is at 19 per share.

FGEN – gap last June was closed and support at 23 per share holds. Price may try to challenge the 24.50 per share resistance this week.

Sarisaring Tinda

FLI – sideways with bullish bias

FNI – it close at the high last week. Price may continue to move up towards the resistance slope this week. After that, monitor if it will just create another lower high or it will break from the current trend.

FOODBullish Piercing Line formation was seen last Friday. Did FOOD hit the bottom already? Test buy or wait for confirmation. It would be good if we will see price close above 0.885 per share.

GERI – the stock continues to show bearish sentiment. No bullish signal yet which means there is a greater chance it will continue to move down.

GLO – gap has been closed. Did GLO hit the bottom already?

GTCAP – with the stock nearing oversold level, it would be good to watch for bullish candlestick formation and then test buy.

IDC – flat Kumo that we thought last week will pull the price down has succeeded. IDC went down by 15.6% to close at 3.8 per share. It touches the Kumo within last week’s price movement. Test buy when you see a bullish candlestick formation. Don’t rush.

IMI – we might see a spike this week for IMI after a Doji appeared on its chart last week. This means the bears are already exhausted and the bulls may capitalize on that. Either you test buy or wait for the Doji’s confirmation.

ION – bullish piercing line formation seen on daily chart. test buy or wait for confirmation.

ISM – sideways with bullish bias. Support at 1.43 per share

JFC – sideways with bullish bias. So far the support provided by the Kumo at 240.50 per share is holding

JGS – is currently at the mercy of its support at 61.8% Fibonacci Retracement level. Aside from that, it also have a support provided by the Kumo. Test buy or wait for confirmation RSI or Relative Strength Index shows the stock is already oversold.

LPZ – the support has been tested for quite a long time now. Will bears finally succeed or concede?

LR – bears took control after it went up and failed to break the Kijun Sen line the previous week and followed by a 8.3% drop of its price. Is it going to visit the 3.83 per share support again?

LTG – may continue to go up this week after it close at the high. Immediate resistance is at 15.58 per share.

MAXS – price is sitting at the support. Will it bounce from here?

MBC – the gap below may be closed soon.

MCP – sideways with bearish bias.

MED – it could still spike this week but its not for the faint of heart.

MEG – it shows a Doji candlestick last Friday but bearish sentiment is still strong. Better to wait for confirmation before testing.

MPI – sideways with bearish bias. Price may be attracted with the Kijun Sen line at 6.58 per share.

MRC – is currently at support level. Will it bounce this week?

MRSGI – the threat at 4.85 per share that we saw the previous week was realized. Price went down by 5.2% last week and Kijun Sen line acted as support. If there will be a bullish candlestick formation at this level, test buy. Otherwise stay out for now.

NOW – if Doji candlestick will be confirmed, a spike may happen towards 3.4 per share

PGOLD – sideways with bearish bias as bearish signals seen last week.

PLC – sideways with bullish bias.

PPC – no bullish candlestick formation yet. Price may continue to drop.

PXP – bullish signal seen after it crosses the Kijun Sen line last week.

SBS – bearish signal via Kumo break last week. Bears are currently in control with resistance at 5.87 per share if there will be a spike.

SECB – the bulls were able to bounce using the KSL support. Price may continue to move up this week.

VITA – spikes may happen but the stock is still bearish.

 
Caveat!

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