Philippine Stock Market – Update on selected stocks 10/20/2017

Philippine Stock Market

2GO – looking at how the KSL moves these past few weeks, price may spike towards 21.22 per share. Support is at 19.13 per share in case it will drop.

AC – showing bearish sentiment at week’s close with RSI or Relative Strength Index at 85.73. The stock is considered overbought which means traders have the higher tendency to sell the buying more shares. Overall sentiment is still bullish.

AGI – dropped 9.10% last week and seek support at 15.18 per share where Kijun Sen line is. But the support can extend to 15.00 per share. As of now we don’t see any bullish candlestick formation. I would rather wait for it.

ALCO – sitting on support level provided by the Kumo. Price may move sideways within the bounds of the Cloud or Kumo.

ALI – sideways with bearish bias.

ANI – has remained aggressive with RSI or Relative Strength Index at overbought level. Support is at 10.69 per share. Is it going to hit 13.5x to close a large cup formation?

APL – sideways with bullish bias. Weak signal seen via Tenkan Sen / Kijun Sen Cross.

ATN – bears are trying to control the stock. If price movement will create a large red candlestick that will pierce through Kumo, then bearish sentiment will be confirmed.

BDO – sideways with bearish bias. Notice the Shooting Star candlestick at the top of an upward trend. If this bearish signal will be confirmed next week, then price will fall and close the gap at 139.90 per share.

BEL – sideways with bearish bias. Chikou Span line continues to move below the price movement and Kijun Sen line staying above Tenkan Sen line.

BHI – sideways with bearish bias.

BKR – dropped by 12.7% to close at 2.27 per share. There is no green signal seen yet so be careful when buying as you might be catching falling knives.

BLOOM – support at 10 per share has been tested repeatedly and so far proved to be strong. Still we don’t see any significant bullish signal this time. Price may just move sideways this week.

BRN – loses steam after hitting 1.17 per share, it went back and close unchanged week on week. There is still a gap near 1.04 per share ang it might be filled this week. Watch out for the break near 1.18 per share. Buy when it happens at the end of the week.

CEB – Kumo was able to support the drop in price few weeks ago and CEB is in a good mood after that. Price may continue to rise this week.

CLC – up by 4.3% to close at 10.00 per share. It is likely to continue move upward this week with resistance at 10.28 per share and support at 9.95 per share.

CLI – price is currently sitting on support level. There is a bullish signal but looks weak. Nonetheless, its worth your time to monitor this stock this week.

COSCO – range trade within 8.40 – 8.65 per share.

CPM – sideways within the 1.5 – 1.6 per share range.

DAVIN – sideways with bullish bias. Kijun Sen line was able to support the price when it hits 6.20 per share.

DD – consolidating inside a triangle and going from support slope to resistance slope around 43.50 per share

EEI – up by 3% to close at 13.60 per share. Price may continue to move up this week. If it will continue to respect its current trend, price will top around 15.9x before moving down. Price is currently moving inside an upward channel.

FGEN – down by 9% with no bullish signal in sight. Let it bleed for now. Spikes may happen as some traders want to get out.

FLI – Kijun Sen line at 1.92 per share keeps pulling the price down where it closed at 1.94 per share last Friday. It is down by 5.8% week on week. No bullish signal seen as of this time.

IDC – may continue to drop while Kijun Sen line’s magnetic force is still strong. Support is at 5.40 per share and 5.16 per share.

IMI – consolidate within the 18.10 and 19.84 per share range.

JGS – sideway within 75.66 and 78.35 per share range.

LR – hovering few points above the 4.00 per share support but without bullish signal, you should not buy it yet. Let it bled when it needs to.

LSC – up by 14% week on week but failed to get inside the Kumo as you see on its daily chart. There could still be another rally this week as Kijun Sen line still moves horizontally at 1.77 per share.

LTG – still on sideways movement within 16.96 and 18.50 per share range. With this big range, you can trade if price is near the support you buy and sell near resistance.

MAC – showing bearish sentiment last Friday but over all sentiment is still bullish. With RSI at overbought level, be aware of some selling pressure.

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

MEG – support at 5.28 per share. If you see a bullish candlestick formation near it, test buy.

MPI – still respecting the current trend. The upward channel that we saw few months back is still valid.

MRC – adding few bearish signals. Last week we saw Chikou Span line move below the 26-day price movement and Tenkan Sen and Kijun Sen line swap places in a bearish fashion. There might be a spike when it hits the Kumo or Cloud but as of now, bears have more reason to celebrate than the bulls. You will have to watch the resistance slope.

MRP – down by 5.7% last week and creating a gap between 7.20 per share and 7.37 per share. The last candlestick created by the traders is called a Hammer which is bullish in this context because it is found below the downward trend

PGOLD – testing the newly found support at 51 per share. If support will be broken, next support is pegged at 49.00 per share.

PGOLD10202017

PLC – dropped by 10.1% percent. It might be tempting to get in but I would rather wait for a green signal. You might just be catching falling knives or trapped in a dead cat bounce.

PNX – it ended with a Hammer candlestick at the support slope. Will it bounce from here? Bulls are gaining control after last week’s trade. If this bullish candlestick will be confirmed, then we can see PNX to go up.

RWM – sideways with bearish bias

VITA – no significant candlestick formation so this could go sideways but the flat Kumo below could pull the price down so we can say that its bias is towards the bear side.

VLL – Kijun Sen line has been effective in pulling the price down. Last week it was down by 4.2% to close at 5.89 per share but the bears may not be finish. Support is seen at 5.75 per share.
Caveat!

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