Philippine Stock Market – Update on selected stocks 11/20/2015

stock market

AGI – while still inside the Kumo this stock may move sideways with bearish bias due to its strong resistance at 18. Chikou Span on daily chart gives off a red signal.

ALI – good bounce from support level. Notice how price bounce after playing at 33 level which was its support. Although Ichimoku elements are still in a bearish positions, a break from the Kumo would be a good boost of the bulls. Otherwise it will just be another lower high

ANI – the stock went up by 63.2% last week and broke the Kumo from below signalling a bullish sentiment but RSI or Relative Strength Index is already at 89.7, will there be a correction? Resistance is seen at 4 while support at 3.16 per share. This is taken from the Senkou Span B which will act as support.

AR – continue to move sideways near support level but as long as Kijun Sen line is moving horizontally at 0.006 per share, there is still a chance it will spike.

BDO – bearish sentiment is strong on the last 3 trading days. Notice how it tried to get inside the Kumo but failed. This stock may continue to move sideways but with bearish sentiment.

BEL – continue to move sideways while inside the Kumo or Cloud based on daily chart while weekly chart shows a possible bounce following the Doji candlestick last week.

BKR – the Kumo continues to provide support for this stock. Notice that it has been tested many times and bears failed to bring the price down further. With KSL still moving horizontally at 1.8 per share, there is a chance it will spike this week.

BLOOM – after successive red candlesticks for 3 trading days, last Friday suggests bullish sentiment. Take note that the area where the price moves now is considered a support area. Test buy at this level but keep in mind that if there will be no confirmation on Monday, it may continue to move down towards 3.57 per share or the 161.8% Fibonacci Retracement level. Resistance is at 6.19 per share. RSI or Relative Strength Index is at 29.8

BLOOMBERRY

BLOOMBERRY

BPI – green signals seen on daily chart. Price may continue to move up and test the resistance at 88.25 per share. This is the Senkou Span B of the Kumo. Breaking the Kumo will be an additional bullish signal for BPI. Weekly chart shows KSL moving horizontally at 91.1 per share

BRN – may move sideways this week

CEB – sideways within the 84 – 90 range. It has been like this for a few weeks now. While last week it is at the resistance or upper range, now its in the lowe range.

CIC – this stock has been moving within the 41.25 – 47.04 range. While it was seen at upper range last two weeks ago, this time it is at the lower range. If this stock will continue to move inside the range then we will see a bounce towards 47 per share otherwise it will break the support and create a new one. Test buy near current support.

COSCO – may continue to move up this week after it didn’t confirm the Doji last Friday.

CROWN – bears is getting stronger and may pull the price down towards 2.2 per share. Resistace is at 2.42 per share

DAVIN – sideways with bullish bias

DD – sideways with bearish bias. The stock is already overbought based on RSI or Relative Strength Index. It needs to loosen a bit before it can continue to move up.

EDC – is currently at the mercy of its support. Should it break, next support is at 5.54 while resistance is at 6.08 per share. Current support is at 61.8% Fibonacci Retracement level. Test buy at this level or wait for a confirmation this week.

EEI – looks like the support at 78.6% Fibonacci Retracement level is strong. It has been holding the price for two weeks now. Test buy if you want but keep in mind the next support is at 3 – 2.77 area.

FGEN – weekly chart shows FGEN back at support level after hitting 27 few weeks ago. Will there be a bounce this week? Daily chart shows a Bullish Harami. Test buy at this level.

FLI – is back at the resistance and so far showed bearish sentiment after it wasn’t able to break the 18 per share. It may move sideways for now at 1.68 – 1.76 range

LIHC – could this be where the stock will bounce? Currently at support level

LTG – Doji candlestick at the top of the trend is not a good sign for LTG. After moving up by 13.8% two weeks ago with bullish sentiment, this week the bulls and the bears are in equilibrium. This means that the bullish sentiment last time is now fading. If the bears will be able to pull it and bring the price down below 13.59 per share then the control will be transferred to the bears.

MAXS – may move sideways this week as it continues to move inside the Kumo or Cloud

MEG – daily chart shows bullish sentiment but since it is still inside the Kumo, price may move sideways with bullish bias

NOW – tested the Senkou Span B support twice already. Is it set to bounce this time?

PCOR – looks like the stock is now done retracing and is set to continue its move upward towards resistance slope

PGOLD – after touching support area, PGOLD could be back on its feet and move up towards 33 level

PLC – Doji candlestick found near support after 3 consecutive candlesticks. Is it time to bounce? You may test buy at this level or wait for confirmation. Resistance is at 1.10 per share.

PPC – sideways with bullish bias while KSL is moving horizontally at 2.82 per share

ROCK – the stock is at the level the same as where it was last 2 years ago. It went up that time, will it do the same this time?

RWM – sideways with bullish bias

SBS – is currently at the support area. There is no bullish candlestick formation yet but this is good to watch.

SSI – is the stock building a support at this level? This week’s candlestick is a Hammer which suggest bullish sentiment. Test buy at this level but keep in mind the latest low is not yet considered a strong support
Caveat!

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