Philippine Stock Market – Update on selected stocks 11/18/2016
AC – the stock found support from the Kumo. If you look at its weekly chart, we have a good bounce from there. Looking at its daily chart, there is still a reason for it to move up in order to close the gap and touch the Kijun Sen line at 801 per share. But other than that, AC could just be forming a lower high.
AGI – after successive weekly red candlesticks, we saw a bullish one last week. Are the bulls going to take control now? Test buy or wait for a confirmation at the end of the week. If ever it will move up, first resistance is 14.00 per share while support is at 12.00 per share.
ALCO – could still move up but expect a very volatile price movement. Not for the faint of heart.
ALI – support at 61.8% Fibonacci Retracement level made it possible for the bulls to bring the price up by 3.7% last week. But if we look at its daily chart, there is a bit of bearish sentiment denoted by the Doji candlestick. If this will be confirmed, then price will move down. Otherwise it will continue to move up and test the resistance at 36.4 per share
ANI – the Kijun Sen line could still help pull the price up. Test buy near the support. Immediate resistance is at 4.10 per share.
AR – tested the support last Friday and so far it holds. Price may continue to move up with immediate resistance at 0.0041 per share while support is at 0.0039 per share.
ARA – sideways with bullish bias after the price close inside the Kumo or Cloud.
BDO – sideways with bullish bias
BEL – registered a bullish signal via Kumo Break on weekly chart. It has a greater chance of continuing its ascend as it close at the high last week. Resistance is at 3.45 per share while support is at 3.17 per share.
BHI – showing some bullish sentiment after it registered a Doji candlestick. A spike may happen this week that will bring the price up towards Kijun Sen line at 0.0865 per share
BLOOM – faced its strong resistance last week but price may just move sideways while trying to gain momentum before breaking the resistance. Price may trade around 6.33 – 6.80 per share for this week.
BPI – sideways with bearish bias
CAL – went up by 3.6% last week after hitting support level. This level was the bottom last August. Are we looking at double bottom here? Price could continue to move up but will face a strong headwind once it hits the Kumo shown on weekly chart.
CEB – sideways with bearish bias.
COSCO – the Kumo failed to support last week as price went down by 4.2% last Monday and followed by sideways movement with an attempt to get back to the Kumo last Friday. The attempt failed and it adds bearish sentiment to the stock at this time. Supports are at 8.20 and 8.10 per share.
CPG – may continue to move sideways with the Kumo as its trading range. See weekly chart below.
CROWN – continue to move inside the triangl. It tried to breakout but failed.
DAVIN – may continue its slow upward movement.
DD – went down by 5% last week. Bearish sentiment is still there.
DIZ – price could still continue going up. No bearish signal yet.
DNL – still trading the range at 10.83 and 11.94 per share.
EDC – is moving within the support level that we saw last June. Last week’s candlestick suggests that bulls are trying to take control. If this will be confirmed, we will see EDC move up and challenge the resistance presented by the Kumo
EEI – registered a bearish signal via Kumo Break. Price may be heading towards its next support at 6.25 per share or 78.6% Fibonacci Retracement level.
EW – still hovering at the support level. This time with bearish bias. It needs to close above the Kijun Sen line to stay bullish.
FGEN – may continue to move sideways as it hang on at support provided by Senkou Span B of the Kumo.
FLI – sideways movement seen at it enters the Kumo
FOOD – no bullish signal yet. Support is at 0.87 per share
GLO – bullish Harami candlestick seen at the end of the downward trend on daily chart but is it enough for a turn around? Test buy at current level or wait for the confirmation. RSI or Relative Strength Index is at 19.5 which means the stock is already oversold.
ICT – sideways with bullish bias
IDC – down by 7.5% last week to close at 3.56 per share. It hit the support provided by Senkou Span A of the Kumo. Although Kijun Sen line could still provide a spike for the price, bearish sentiment is adding up.
ION – bearish sentiment continue to build up on this stock. A spike may happen but could be use as a fire exit.
IS – continues to be bearish with support at 0.18 per share or the 78.6% Fibonacci Retracement level.
ISM – bears continue to take control of the stock. Resistance is at 1.43 per share while support is at 1.30 per share.
JFC – price is hanging on at 161.8% Fibonacci Retracement level while no bullish candlestick pattern is seen yet. Next support is at 200.00 per share in case it will continue to drop.
JGS – attempted to test the newly found resistance but failed. There could be another attempt this week.
LPZ – registered a weak bearish bias via Kijun Sen Cross. Although it is still sitting at the support level, bears may break it.
LTG – bears continue to control this stock. It may visit its previous support at 13.2x that we have seen last May.
MAXS – sideways with bearish bias. Next support is at 25.52 per share.
MBT – Doji candlestick seen last week. Test buy when you see a confirmation for that candlestick at the end of the week. If no confirmation will appear, next support is at 72.70 per share.
MCP – still in consolidation mode
MEG – tested the newly found resistance but failed. Price may move sideways with bearish bias.
MPI – found support at the KSL line with Doji candlestick at the week’s closing. Is it going to go up this week? The stock could be forming a Symmetrical Triangle.
MRSGI – registered a bearish signal via Kumo Break. Bears continue to control the stock.
NI – may test the newly found support after the Kumo Break. Support is at 3.0 per share.
NIKL – it may test the 9.0 resistance this week while no bearish signal is found at weekly chart.
NOW – touched and found support at the Kumo but no bullish signal yet. Wait for it.
PCOR – Kijun Sen line at 10.6 per share may help pull the price up.
PGOLD – sideways movement may be seen this week after the 7.2% drop last week.
PLC – range trade with 1.04 per share as its lower range and 1.23 per share on the upper range.
PXP – may continue to move up following the 2.5% rise last Friday. KSL could continue to pull the price up.
SLI – bullish sentiment was evident at the last part of last week’s trade. It may continue to move up and test the 1.0 per share resistance.
SMPH – is moving inside a downward channel. It went up by 5.4% last week but could just be creating a lower high as it continue to move inside the current channel.
STI – no bearish signal seen yet which means price is likely to continue going up.
TEL – is forming a Hammer candlestick last week. It is better to wait for a confirmation before testing.
X – sideways with bullish bias.
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