Philippine Stock Market – Update on selected stocks 11/10/2017

Philippine stock market

2GO – no bullish signal found as of last week’s closing. It went down by 4.6% and may continue to drop towards 16.x territory which corresponds to the 61.8% Fibonacci Retracement level.

AC – may continue to move sideways with bearish bias. Kijun Sen line at 976.50 per share may pull the price down.

AGI – while Kijun Sen line can protect the price, the flat Kumo may be strong enough to pull the price down. It is at 14.50 per share.

ALCO – bears are in control of the price and may revisit support at 0.90 per share.

ALI – consolidation mode within 42 and 46 per share range.

ANI – there is still strength from the bulls to push the price within the 13.x level. Notice that this is level was visited last 2012

BEL – sideways within 3.74 and 4.00 per share.

BLOOM – up by 9.9% week on week and may continue to go up this week but not without headwinds. Bullish sentiment is still intact.

BPI – Kijun Sen at 102.05 per share may pull the price up this week.

BRN – currently within the support zone but no bullish signal yet. The support zone is down to 0.90 per share.

CLC – sideways within 9.34 and 9.67 per share with bearish bias

CLI – a spike could happen this week with the flat Kumo pulling the price up but there is a greater chance it will not last long.

COSCO – touched the support level. I would rather wait for the green signal before buying some shares.

COSCO

COSCO

DAVIN – Support at 5.50 per share was able to hold the price from going further down but we don’t see any bullish signal yet.

DD – bears are still in control. A spike may happen only for a very short period of time.

EEI – back to support level. Looks like it is going to bounce from here?

EW – still in consolidation mode.

FLI – sideways with bearish bias. Support is at 1.79 per share while resistance is at 1.92 per share.

GSMI – sideways with bullish bias.

HVN – flat Kumo at 17.00 per share may pull the price down. As of now, the Kijun Sen line is preventing the price from moving upward.

IDC – no bearish signal yet but RSI or Relative Strength Index is already at 93 so expect more volatility as gainers try to protect their gain.

IMI – no bearish signal found yet. Will it hit 24.87 per share soon?

ION – may continue to move up towards 2.2x per share

JGS – sideways with bearish bias.

LIHC – may enter the 0.6x level while no bullish signal is showing.

LMG – sideways with bullish bias. Support is at 4.00 and 3.50 per share while resistance is at 4.74 and 5.23 per share. Tenkan Sen line crosses Kijun Sen line a couple of weeks ago which is a weak bullish signal.

LR – down by 6.7% week on week. Price is within the support zone created last May. There is no bullish signal yet but if one appears, test buy.

LTG – range trade within 17.00 and 18.00 per share

MEG – bearish signal found last week. If this will be confirmed, then we will see price to dip towards 5.2x level, else it will continue to go up and challenge the resistance at 6.00 per share.

MPI – continues to respect its current trend.

PGOLD – sideways within 49.76 and 53.50 per share.
Caveat!

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