Philippine Stock Market – Update on selected stocks 11/25/2016

Philippine stock market

AC – bearish sentiment is evident on this stock after it dropped by 6.7% last week. Although it found support at the Kumo and 61.8% Fibonacci Retracement level, it may not be enough for a reversal. It could go sideways instead.

AYALA CORP

AYALA CORP

AGI – Kijun Sen line at 13.86 may continue to pull the price up especially if we don’t see a confirmation to the Doji candlestick we saw last Friday.

ALI – sentiment is still bearish although we may see a spike this week following last Friday’s movement but it may just create a lower high as price continues to move downwards

ALT – spike may happen and test the resistance at 3.0 per share but stock is still bearish so be careful and don’t stay longer when spike happens.

ANI – went up by 11% to close at 4.25 per share last week but if you notice it wasn’t able to break from the Kumo which is its immediate resistance after breaking previous resistance at 4.10 per share. Either you wait for the Kumo Break or test buy near 4.10 per share which is its newly found support.

ANI

ANI

APL – sideways with bullish bias

ARA – heading towards 2.0 per share as next support after the Kumo failed to support the stock. Price went down by 6.6% to close at 2.07 per share. Don’t be in a hurry to buy. Wait for the signal.

AT – no bearish signal seen yet which means price is more likely to go up this week. It will test the resistance posted by Senkou Span B

BDO – sideways with bearish bias. Support is at 109.75 per share.

BEL – tested its newly found support at 3.075 per share. Is it now ready to resume its ascend? Test buy near support at 3.08 or 2.92 per share. Resistance is at 3.45 per share.

BHI – no confirmation from previous candlestick. It instead drop by 9.1% reinforcing bearish sentiment. Now at 78.6% Fibonacci Retracement level without bullish candlestick signal. No rush. Wait for the signal.

BLOOM – still knocking on resistance level and may move sideways while the bulls muster it strength before the next attempt. Support is at 5.50 per share in case it will turn sour. Test buy near the support or when breakout happens

BPI – currently at 61.8% Fibonacci Retracement level after it dropped by 5.4% last week. This is an interesting area. Will there be bounce from here? Test buy at current level or wait for bullish candlestick at the end of the week.

BRN – sideways with bullish bias

CAL – ended with a Doji but still maintains the bullishness following previous ascend. Resistance is still at 3.01 per share.

CEB – sideways with bullish bias

CHP – sideway with bullish bias

COSCO – still within the support area provided by the support slope. No bullish signal though.

CPG – ended at the support level last week. It may test the resistance this week.

CROWN – still inside the consolidation area provided by the triangle. Breakout or Breakdown? It may happen very soon.

CROWN

CROWN

CYBR – range trade between 0.53 – 0.59 per share. Currently at the lower range.

DAVIN – bearish sentiment seen last week after consecutive green candlesticks. Is it time for Davin to retrace?

DD – bears are in control and gaining strength. Although we may find spikes every now and then, it may not be enough to change the current trend

DIZ – went up as high as 14.92 per share but failed to sustain its rally last Friday. Bearish sentiment is currently evident with sellers trying to take profit. RSI or Relative Strength Index is already at 94.69 which means the stock is overbought.

DNL – continues to move within its 10.83 – 11.94 range. No strong bullish signal yet.

EDC – still hanging on its support level. Test buy if you see a confirmation the the Hammer candlestick formed last week. Otherwise, avoid for now.

EEI – continues to drop and may find support at 6.25 per share which is its immediate support.

EW – sideways with bearish bias

FGEN – went down by 4.8% to close at 21.7 per share. Test buy if the support at 21.00 per share holds.

FLI – sideways with bearish bias as it enters the Kumo or Cloud.

FOOD – sideways with bullish bias. Kijun Sen line at 1.07 will continue to attract the price while it moves horizontally.

GLOBullish Harami formation found last week at 127.2% Fibonacci Retracement level. Did it hit the bottom?

GTCAP – may continue to move up following last week’s performance.

HVN – bullish sentiment is likely to continue this week after it went up by 15.5% last week. Kijun Sen line at 16.96 per share continues to pull the price up.

IDC – bears continue to control the stock. No bullish signal can be found as of this time. Next support is at 3.0 per share.

Sarisaring Tinda

ION – touched the Kijun Sen line but the resistance is strong for the bulls. It may retrace and find support at 1.70 per share before another attempt to break the resistance will happen.

IS – test buy when you see a confirmation from last week’s Doji candlestick. If confirmed, it may rise and touch the Kumo at 0.27 per share.

ISM – sideways with bearish bias.

JFC – found support at the Kumo. Price will move up but will be confined with the bounds set by the Kumo.

JGS – sideways with bullish bias.

LC – may continue to move up while Kumo attracts the price

LIHC – Doji candlestick at the top of current trend. Is it time to retrace? A Doji candlestick means the buyers and the sellers are indecisive. Since price is on an upward trend, this means that the sellers are gaining control and if followed by a large red candlesticks, it is a confirmation that the bears are taking control. If no confirmation, price will continue to move up.

LIHC

LIHC

LR – may challenge the resistance at 5.65 per share this week. Test buy at current level or wait for the breakout.

LTG – range trade within the Kumo

MAXS – sideways with bearish bias.

MBT – sideways with bearish bias. No confirmation from previous week’s Doji candlestick.

MCP – sideways with bearish bias.

MED – dropped by 11.7% to close at 0.68 per share. Flat Kumo may continue to attract the price at 0.615 per share.

MEG – range trade within 3.54 – 3.96 per share range.

MPI – breaks down from the triangle signaling a bearish sentiment.

MRC – range trade within 0.14 – 0.15 per share range.

MRSGI – showed bullish sentiment last week. It may continue to move up this week.

NI – testing the newly found support after breaking from the Kumo. It may continue to test it before resuming its ascend. Test buy near the support.

NIKL – met its resistance last week. Although we have no bearish signal yet, be careful as the stock is already overbought.

NOW – showed bullish sentiment depicted by the Hammer candlestick. Could this be the right signal? Test buy near support or wait for the confirmation. RSI or Relative Strength Index is at 26.5 which means the stock is oversold.

PCOR – continued to be bearish after Senkou Span A failed to protect the price. Next support is at 8.59 per share.

PGOLD – bears are still in control. May find support at 38.13 per share as it continues to drop.

PLC – range trade within 1.04 and 1.23 per share

PPC – up by 19.2% but last Friday’s movement showed bearish bias after it closed with a Doji candlestick. If this will be confirmed, price could retrace with immediate support at 4.73 per share. Otherwise it will continue to go up and continue to create another new high.

PXP – sideways with bullish bias.

RWM – may continue to move up this week to form another lower high pattern

SECB – currently at 61.8% Fibonacci Retracement level. Test buy if you will see a bullish candlestick formation at the end of this week. Don’t rush.

SHLPH – sideways with bullish bias

SLI – Bullish Engulfing candlestick pattern but it needs to be confirmed especially that Kijun Sen line could be a strong resistance. Better if price will close above the KSL at the end of the week.

SMPH – price is still moving inside the downward channel with price at resistance slope.

STI – sideways with bearish bias. KSL at 0.84 may pull the price down while it moves horizontally.

TEL – may continue to drop while no bullish signal is seen yet. Next support is at 1284.21 per share which corresponds to the 161.8% Fibonacci Retracement level.

TUGS – bears are currently in control. Price may drop and find support at 1.81 per share.

WEB – went up by 58.2% last week but the last two trading days shows some bearish sentiment. It could be that the more traders are taking profits before the next ascend. Short term RSI suggests the stock is already overbought while longer term shows a healthy price movement. A retrace may happen just to loosen up the RSi before it will continue to go up. Support is at 13.9 per share.

X – sideways with bullish bias.
Caveat!

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felix

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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