Philippine Stock Market – Update on selected stocks 11/27/2015

stock market

2GO – weekly chart: after the big drop few weeks ago, the stock seems to find support at the Kumo. Is it getting ready to spike soon? The Kijun Sen line is moving horizontally at 8.65 per share which could help pull the price up. Test buy at this level

AC – daily chart suggests bearish bias after it went down last Friday and pierced through the Kumo closing below it. The Senkou Span B is now its immediate resistance.

AGI – still having a hard time breaking the 18 per share resistance. Daily chart shows price is supported by the Senkou Span of the Kumo. Test buy at this level as long as the support holds or when resistance is broken.

ALI – daily chart shows the stock is heading towards support level which is at 33 per share. Notice how the Kumo and the Kujin Sen line prevent the price from upwards after it hit them. Not advisable to get in as of this time. Wait until we see a bullish candlestick formation. Next support is at 32.5 per share

ANI – went down by 5.1% last Friday and formed a bearish candlestick pattern. Although it is suggested that the closing of Dark Cloud Cover should be below the middle point of previous green candlestick, we could still see bearish bias as of now. With this, we need a confirmation to see if the bears are really in control. If price will close below midpoint of green candlestick then that is a strong indication of its bearishness. If the bulls are still in control, it will just drop during the day to loosen the RSI or Relative Strength Index but closes above midpoint.

AR – continues to move sideways near support area while Kijun Sen line continues to move horizontally. There is still chance the KSL can pull this price up. Test buy at this level

BDO – sideways with bearish bias

BKR – while inside the Kumo, price may move sideways but with bullish bias

BRN – currently moving around support slope. This may test the resistance at .90 this week. The resistance at 0.98 per share is still considered strong.

CEB – still in sideways movement but with bearish bias. The Hammer on the previous week wasn’t confirmed.

CIC – continues to move sideways within the 41.25 – 47 range

COSCO – may continue to move sideways this week

CROWN – up by 4.2% to close at 2.50 per share. The stock was able to make a come back this week and made a bullish signal last Thursday via Kijun Sen Cross. The immediate support at 2.49 was tested and has so far proved to be strong. As of now the resistance is at 2.60 – 2.63 per share. Test buy near support.

CYBR – possible spike this week towards 0.52 per share. If things get sour, support is at 0.43 then 0.40 per share

DMC – may continue to drop towards 13.2 per share where it will be supported by the Kijun Sen line

DNL – may move sideways within 9.53 and 9.20 per share range

EDC – good bounce last week. It went up by 6% to close at 6.2 per share. Still has a big upside with PRZ at 7.3x Test buy at current level

EDC

EDC

EEI – the support has finally been broken last week as EEI dropped by 17.9% to close at 4.54 per share. The bears is clearly in control as of this time.

FGEN – sideways movement within 24.26 – 21.94 per share

ION – may move sideways and spike towards 2.3 per share but this area is also a strong resistance.

JFC – sideways movement seen this week at 206.56 and 195.90 per share

LIHC – the bears and the bulls still in equilibrium. Test buy at this level.

LPZ – while inside the Kumo, price may move sideways but with bearish bias.

LR – sideways with bullish bias

LTG – weekly chart shows that the doji candlestick wasn’t confirmed and instead it went up by 6.6% this week. So there is bullish sentiment on longer term but daily chart shows some bearish bias after giving a doji candlestick. What this translates is that there might be a correction this week to loosen up RSI or Relative Strength Index. Support is at 14.62 per share. If Doji candlestick on daily will not be confirmed or if price will consolidate for a while then it will eventually hit the next target which is 15.94 per share

LTG

LTG

MARC – currently it is moving around the support area which is at 78.6% Fibonacci Retracement level. If the bulls will be able to pull this up, it could eventually hit 3.6x level. Kijun Sen line will also help pull the price up as it move horizontally at 2.70 per share.

MER – Kumo may provide support for MER. The gap created a couple of weeks ago may be closed. Kijun Sen line at 317.6 per share will help achieve that. Test buy at current level. Aside from the Kumo, 304.5 per share is also a support.

NI – sideways movement with bullish bias

NOW – previous candlestick that shows some bullishness was not confirmed last week. This means that bulls are still in control. Although the Kumo provides support as of this time it crumble and price seek support at 0.60 per share. Test buy next support

PGOLD – went up by 5.7% this week to close at 34.4 per share. Last Friday it went down and may continue to do so and build support at 34.10 per share. At this time, any correction or consolidation is a welcome progress. Buy near support.

PLC – weekly chart shows on confirmation for the Doji candlestick. Support is at 0.94 per share. Daily chart shows a Doji candlestick. Will it be confirmed? Test buy at this level but keep in mind that next support is at 0.84 per share in case it will turn sour.

PPC – still having a problem breaking the resistance. Test buy near 2.20 per share but know your stops. Next support is at 2.0 per share.

PSPC – broke the support at 127.2% Fibonacci Retracmeent level. Will it continue to move down towards 1.5x per share?

SBS – Doji candlestick appears at the end of last week’s trade. Did the stock hit the bottom this week? Doji candlestick means the bears and the bulls are in equilibrium. Since the candlestick appears at the bottom of a downward trend, this means that the bears are losing stream and bulls are gaining control. If we will get a confirmation via large green candlestick, then price will reverse. Test buy at this level especially if there is confirmation. If a reverse will happen, price may hit 8.x level

SSI – price may continue to move up and test the resistance at 5.12 per share. Buy at current level.

URC – sideways movement within 204.54 – 191 per share but with bullish bias

X – sideways with bearish bias
Caveat!

One Response to Philippine Stock Market – Update on selected stocks 11/27/2015

  1. Thank you Felix for coming up with this blog. It's very helpful for starters.

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