Philippine Stock Market – Update on selected stocks 10/21/2016

stock trading

2GO – more like forming a handle for its cup. Price may retrace as the cup and handle formation is on its way. Kijun Sen line at 7.5 may pull the price down to complete the cup. Projected price will be around 8.2 per share if price movement will follow the current formation.

AC – the threat from KSL is still there as it moves horizontally at 815.5 per share

ACR – Senkou Span A of the Kumo was able to hold the price up. Test buy at current level unless price will break the Kumo

ALI – Kijun Sen line at 37.85 per share acts as resistance. No bullish signal yet as price may just move sideways for now.

ANI – sideways with bullish bias after last weeks price movement. Immediate resistance is at 4.00 per share while support is at 3.54 per share. Test buy near the support.

ARA – did it hit the bottom last week? After successive red candlesticks, a green one emerged last week. Test buy at current level.

BEL – went up by 3.2% to close at 2.92 per share but wasn’t able to pierce the Kumo. Last Friday’s movement is showing bearish sentiment. Unless it will not be confirmed, price may continue and challenge 3.00 per share resistance.

BHI – bearish sentiment continues to be apparent on BHI’s price movement. It registered a weak bearish signal last week as it broke from Kijun Sen line.

BLOOM – went up by 12.4% last week to close at 5.79 per share but last Friday’s movement showed bearish sentiment after it failed to break the Kumo. This week will be the test of resistance. Not a good idea for a fresh entry as of this moment. Watch for the movement for now.

BPI – sideways with bearish bias. The Kijun Sen line threat is still there.

BRN – went up by 9.5% last week. We saw the Kijun Sen line attract the price but now it will act as resistance.

CAL – sideways with bullish bias. Resistance is at 3.28 per share while support is at 3.00 per share.

CEB – bulls returned the favor after the bears drop the price the previous week. Last week it went up by 4% to close at 108.00 per share. Daily chart suggests there is at greater chance price will continue to move up at 110.9 per share but still maintaining possible scenario of a fire exit.

CEI – sideways with bullish bias.

CHP – range trade within 11.56 per share and 11.88 per share

COSCO – sideways with bullish bias.

CPG – range trade within 0.635 per share and 0.55 per share.

CROWN – went up by 7% to close at 2.14 per share. It is still moving within the bounds of the triangle we saw last week. Will it finally break this week? Test buy at current level or wait for a clear breakout.


CYBR – good rally for the stock last week finishing 22.2% to close at 0.66 per share. There is still room for the buyers but price may also move sideways within the 0.64 – 0.68 price range.

DAVIN – failed to break the Kijun Sen line and may experience headwinds this week but bullish sentiment is still there.

DD – sideways with bullish bias.

DMC – bullish signal via Kumo Break seen last week but price may test the newly found support this week. Bullish sentiment is intact.

DNL – sideways with bullish bias

EEI – went up by 4.8% last week. Price may continue to move up with Kijun Sen line attracting the price.

EW – went up by 6.2% to close at 19.98 per share. Price may continue to move up this week.

FGEN – KSL continue to support the price. Test buy at current level. Just continue to watch the KSL support.

FLI – may continue to move up and challenge the 1.90 per share resistance.

FNI – up by 18.6% to close at 1.21 per share but last Friday’s movement shows some concern after creating a Shooting Star. RSI or Relative Strength Index goes up also to 81.8 which means the stock is already overbought.

FOOD – closed at 1.02 per share as it went up by 15.9% last week. Price may continue to move up with headwinds along the way. Those who bought last week may continue to hold their position if haven’t lock profit last Friday

Sarisaring Tinda

GERI – registered a Doji candlestick last week. Is it the bottom for GERI? Test buy at current level.

IDC – price took a good turn after previous week’s performance. The Kumo acted as a bouncing board as price went up by 8.4% to close at 4.12 per share. Kijun Sen line may continue to attract the price at 4.76 per share. Consider the 4.76 – 3.8 per share range this week.

IMI – spike push the price up by 5.2% to close at 6.10 per share. Price may continue to move up this week.

ION – sideways with bullish bias.

IS – will a spike be possible this week? Test buy at current level but don’t forget the next support is deep down at 0.18 per share.

ISM – support was tested again last week and was able to hold. Are the bears exhausted now? Test buy at current level.

JGS – buyers push the price up closing at 70.35 per share last week as it rallied by 10.9% Price may continue to move up while there is still room for buyers.

LBC – may continue to move up following last week’s price movement.

LC – will the price be pulled by the flat Kumo and Kijun Sen line? Just take note that there are a lot of traders who want to get out from this stock so a spike may only be short-lived.

LPZ – sideways with bullish bias

MAXS – bounced from the support we saw last week. It went up by 4% and may continue its ascend this week.

MCP – bullish signal seen last week. Price may continue to move up with headwinds along the way.

MED – sideways with bullish bias

MEG – showed bullish sentiment last week but we need a confirmation of the bullish candlestick pattern, otherwise it will continue its descent.

MER – sideways with bullish bias.

MPI – sideways with bearish bias. Kijun Sen line is a threat at 6.58 per share.

MRC – bullish sentiment is evident last week while support was able to stop the price from moving down further. Test buy at current level.

MRSGI – support was successful and price may continue to move up this week. Test buy at current level. Support is still at 4.85 per share

ORE – may continue to move up while Kijun Sen line continues to attract the price. KLS is at 1.16 per share.

PGOLD – good bounce at 50% Fibonacci Retracement level. It went up by 5.1% last week and may continue its ascend but with headwinds as sellers try to lock profit. Support is at 42.67 per share.

PLC – bullish bias last week was intensified after PLC broke the Kumo which is a bullish signal. Those who tested last week may continue to hold their position. A test to newly found support may happen this week which is at 1.10 per share. If it holds price will continue to move up and challenge the 1.23 per share resistance.

PPC – took a good turn and bulls control the price movement that we thought bears will continue to bring the price down. Price tested the newly found support last Friday. So far it holds. Will there be a test to break the resistance at 3.90 per share this week?

PXP – bearish sentiment is still evident at this time. Don’t rush. Wait for a bullish signal.

T – Kijun Sen line at 2.30 per share is still trying to pull the price up. Will a spike happen this week?

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A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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