Philippine Stock Market – Update on selected stocks 12/01/2017

Philippine Stock Market

2GO – sitting at 61.8% Fibonacci Retracement level but no bullish signal formed yet. A spike up to 19.00 per share may happen due to the flat Kumo pulling the price up but this could be overshadowed with the force of the bears that is quite strong at this time.

AC – pull towards 976.50 per share is still strong as Kijun Sen line continues to move horizontally at that price.

ALCO – no bullish signal yet as it move towards support pegged at 0.82 per share. Last week it went down by 4.3% to close at 0.89 per share with Relative Strength Index or RSI at 31.8 Monitor the candlestick once it is within support area.

ALI – down by 5.2% week on week and resting around the lower range. The range is 46.00 – 42.00 per share. In case the support will not hold, next support is at 40 per share.

ANI – while 13.x level is still possible to be reached, bulls strength starts to weaken. Relative Strength Index or RSI is at 84.7

APL – its bid to bounce from last week’s indecisive performance failed. Kijun Sen line was effective in preventing the bulls from move upward.

BDO – all signals are still bullish. It will likely to continue moving up. Any price dip is an opportunity to buy.

BEL – closed almost unchanged week on week but the force coming from the Senkou Span B maybe too strong. Support is at 3.54 per share. Observe how price will act when it hits there.

BHI – it went up by 12.7% the previous week but was easily put down by the bears towards the end of this week when BHI shed 10% to close at 0.072 per share. This week’s movement could be sideways.

BLOOM – showing bullish signals last week and an upward push may be seen throughout this week.

BRN – up by 7.4% last week breaking the psychological resistance at 1.0 per share. Price is more likely to go up this week since we don’t see any bearish signal so far.

CLI – testing the resistance but so has failed so far. Is it going to have another try?

COSCO – has been hovering within the support area. You can test buy at 7.40 per share or wait for the green signal. RSI or Relative Strength Index says the stock is already oversold. Will buyers start to come in?

DD – bearish sentiment is still strong.

DNL – up by 4.3% week on week but resistance at 11.3x may be strong for the bulls to break at this time but if broken, it will push the price towards 12.20 per share.

EMP – may continue to move up. Resistance is at 7.90 per share.

EW – price may continue to dip and find support at 31.9x per share.

FLI – currently sitting at 61.8% Fibonacci Retracement level with a Hammer candlestick. Will there be a bounce this week? Test buy near 1.79 per share where support is. In case it will continue to get sour, next support is at 1.66 per share. Resistance is at 1.88 per share which seemed to be strong at this time.

GERI – down by 7.3% week on week and may continue to do so while no bullish signal seen. Next support is still around 12.x unless a new one will be created.

HVN – pull from flat Kumo may continue to hound HVN while Kijun Sen line at 18.27 is resisting the price to go up further. Sideways movement may happen this week within the space provided by Kijun Sen line and Senkou Span B.

IDC – sideways with bearish bias. Even if there will be a spike, bears are still in control as of this time.

IMI – a spike could happen anytime while Kijun Sen line is moving horizontally that will bring the price towards 20 per share

ION – rough ride last week for ION holders when it rose to 2.6x and drop at 2.04 per share. Support is at 2.02 per share. No bullish signal seen yet so don’t rush getting in.

ISM – still in consolidation mode.

JFC – support is around current price should sellers continue to push the price down this week. If support will hold, test buy. Otherwise, let it bleed. Next support is somewhere at 232.x

JGS – broke its support at 69 per share. Price is not at 67.05 per share and may continue to dip towards 66.00 and then 64.26 per share. Don’t get in while no green signal is present.

LR – there could be a relief this week from successive fall but it may continue to reach 3.0 while no bulls seen yet.

LTG – sideways within 19.07 and 19.70 per share

MARC – sideways with bearish bias.

MAXS – continue to trade with its 17.65 and 21.32 per share range. Price is currently within the support area. If we see a bullish signal, it will bounce towards upper range.

MBT – has been respecting the upward channel and may continue to do so.

MEG – down by 7.3% week on week to close at 5.19 per share as Kijun Sen line pull the price down. It could still reach 5.05 per share where the line is. Test buy at support.

MER – currently at 305.4 per share and may continue to drop towards 290 area. Bears are currently in control.

MPI – price movement has been respecting the current trend. Notice on its weekly graph how it bounce at support slope and was stopped at resistance slope. Will it continue to do so? A good indicator is a bullish candlestick that will appear at the support slope. Test buy when you see one.

MPI

MPI

MRC – after rallying with 26.5% the previous week, 17.4% was shaved last week placing MRC at 0.355 per share at week’s close. This could be treated as testing the newly found support. With Kumo as support, bulls could continue pushing the price up or at least move sideways.

MRP – after pushing the price up towards the Kumo (daily chart), bulls are starting to feel tired. Will there be a retrace this week?

MRSGI – is enjoying the support provided by Senkou Span A. Watch for a green signal for possible bounce. Absence of that means price will drop and find support at 3.6 per share.

NOW – sideways within the area provided by the Kumo

PGOLD – sideways movement within 47.88 and 50.69 per share range.

PHEN – could spike towards 1.64 but may not be enough to create a big spark. Bearish sentiment is still strong.

PLC – closed unchanged last week but bears could still bring the price down towards 1.25 per share.

PXP – down by 5.3% last week but no significant bearish signal formed on weekly chart. Daily chart shows weak bearish signal after breaking the Kijun Sen line.

RLC – could be a bounce after hitting 127.2% Fibonacci Retracement level. If confirmed, price may continue to go up and hit 25.x level.

TUGS – sideways with bullish bias

WLCON – may continue to move sideways within 8.00 and 8.50 per share.

WPI – sideways with bearish bias

X – the bulls wasn’t able to capitalize on the indecisive mood prior to last week. Instead, price declined by 9.5% to close at 3.51 per share. Although the stock is already oversold, we still don’t see eager buyers.

Caveat!

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