Philippine Stock Market – Update on selected stocks 1/20/2017

stock trading

ALI – bounced from the Senkou Span on weekly chart and bulls were in control at the end of the week with newly found support at 35 per share. Price may continue to move up but not without testing the new found support. Next resistances are 36 and 38 per share.

ALT – bears are in control with resistance at 7.315 per share. In case of a break and rally, the gap above may be closed but stock is very volatile so better to cash in if you have a gain. Not for the faint of heart.

ANI – sideways with bullish bias. Price is heading towards its resistance slope for daily and weekly chart.

APL – resistance at 0.056 has been tested for two successive weeks but bulls continue to fail. Last week’s performance brought bearish sentiment.

ARA – sideways with bullish bias. Support is at 2.42 per share while resistance is at 2.74 per share. Kijun Sen at 2.98 is still valid for attracting the price up.

BEL – hit the resistance slope last week but wasn’t able to sustain its rally. So far no bearish candlestick pattern. Bulls my try to push the price up this week.

BHI – sideways within the 0.07 – 0.08 range

BLOOM – went up by 12.4% last week to close at 7.05 per share breaking the psychological resistance at 7.00 per share. Bulls are currently in control after it broke from the Kumo. Based on its weekly trend, a possible 8.00 will be reached but remember this areas was tested 3x in the past.

BRN – sideways with bearish bias.

CAL – currently at the the resistance level with greater chances to move up this week. Next resistance is at 3.00 per share.

CPG – sideways with bullish bias.

CROWN – still trying to break from the current resistance but bulls are weakening

DAVIN – Kijun Sen line at 6.85 per share may continue to pull the price up this week.

DD – sideways with bearish bias

DNL – possible test of its newly found support at 12 per share. Setup is still bullish.

EEI – made a 24.2% climb last week to close new the Kijun Sen line. This is our resistance. Does EEI still the strength to go up?

FLI – sideways with trading range at 1.61 – 1.70 per share

FOOD – Kijun Sen line at 1.07 per share could still pull the price up. It went up by 7% last week

GERI – may continue its path in completing the cup formation.

GLO – sideways within the 1650 – 1830 range.

ISM – the bent Kijun Sen line suggests a bearish sentiment. 1.43 per share is still a strong resistance to break.

JGS – may continue to move up after it shows bullish sentiment via Kijun Sen Cross. Next resistance is 80 per share

LBC – sideways with bearish bias.

LC – sideways with bullish bias. Kijun Sen / Tenkan Sen Cross happened last week which is a bullish signal.

LIHC – sideways with bullish bias. Kijun Sen line and the flat Kumo may pull the price up towards them.

LR – sideways with bullish bias.

LTG – currently trading near the 127.2% Fibonacci Retracement level. There is no bullish candlestick formation yet but it is a good area for bounce. Wait for the bullish candlestick formation. Test buy when you see one.

MARC – sideways with bearish bias.

MCP – no bearish signal as of this time which means price may continue to move up but monitor the RSI or Relative Strength Index as it is now entering the overbought level.

MED – is still in bullish mood but may move sideways while price is inside the Kumo or Cloud.

MEG – sideways with bullish bias

MPI – sideways with bearish bias although Senkou Span on daily chart has been effective in supporting the price last week.

MRC – sideways with bullish bias

MRSGI – Kijun Sen line at 4.75 per share may continue to pull the price up.

PGOLD – registered a bullish signal last Friday via Kumo Break. Price may continue to move up but with resistance at 42.5 per share.

PHEN – daily chart suggest bullish sentiment after showed green candlestick following the Doji but 2.30 per share may post a strong resistance

PLC – may continue to move up and challenge the 1.6 per share resistance. RSI or Relative Strength Index is already at overbought level so be careful.

SBS – no bearish signal as of this time which means price may continue to move up.

SLI – test buy when you see a bullish candlestick formation this week since it is currently at support level.

TUGSShooting Star formation last week which means bears are gaining control to the stock. If this will be confirmed via long red candlestick, price will retrace.

TUGS

TUGS

VITA – sideways with bearish 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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