Philippine Stock Market – Update on selected stocks 12/02/2016
AGI – sideways with the tendency to create a spike up to 14.52 per share but so far the stock is bearish so don’t dwell on the stock for too long.
ALI – trying to break from the resistance but failed. Bears are still in control.
ALT – a spike may happen due to the pull of Kijun Sen line but overall sentiment is still bearish.
ANI – Kumo Break registered last week as an additional bullish signal. Price may continue to move up this week but the possibility of testing the newly found support is there. Might as well test buy near the support
APL – Doji candlestick appears last week after consecutive red candlesticks. Is this the bottom for APL?
ARA – it went up by 4.3% to close at 2.20 per share last week. Bulls may try to break the Kumo this week. Test buy at current level or at 2.0 per share which is its support.
BEL – currently on a downward trend after the Chikou Span went below the price action. Projecting its price movement, we can see that it could hit around 2.50 per share unless the Kumo that the price is on it will protect the price. Not the right time get in yet.
BHI – three weeks ago there was a doji candlestick but was not confirmed. This time another bullish reversal pattern appeared. Will it be confirmed this time?
BLOOM – continues to move sideways with bullish bias. The Senkou Span of Kumo has been a strong resistance so far but the bulls may take another try this week.
BPI – found support at the 61.8% Fibonacci Retracement level. This could lead to a spike to its price but bears are still in control.
CAL – may move within its 2.66 – 3.00 trading range this week.
CEB – bearish sentiment is evident after it drop by 5.4% last week without a trace of bullishness. Next support is at 93.4 per share.
COSCO – sideways movement as it continues to hang on at current support slope.
CPG – range trade between 0.52 and 0.57 per share.
CROWN – went down by 4% last week breaking from the consolidation space. Bearish sentiment is strong at this time.
CYBR – sideways with bullish bias
DD – went down by 17.2% last week. Buyers may prevent the stock from dropping this week as a result of a spike but still the stock is in bearish mood
DNL – continues to move sideways at the same trading range we saw last week. No significant signal seen as of this time.
EDC – bullish candlestick formation seen at the end of the week but be cautious. Better to wait for the confirmation before getting in.
EEI – could have a possible bounce from this level once we see a bullish candlestick formation. Test buy near 6.25 per share or when it creates a bullish candlestick formation this week. RSI or Relative Strength Index shows the stock is already oversold.
EW – sideways with bearish bias
FOOD – sideways with bullish bias
HVN – may continue to move up this week but with headwinds at 15.15 per share.
IMI – Kijun Sen line at 7.2 may help pull the price up
ISM – went up by 3% last week but breaking the 1.43 per share resistance could be a challenge for this stock.
LIHC – fell by 9.7% last Friday and no bullish signal appears yet. Kijun Sen line at 1.26 appears to be pulling the price down.
LR – Kijun Sen line at 5.65 per share prevented the price from moving upward. Price may move sideways this week.
LTG – Kumo Break seen last week after it fell by 5.1%. Notice that the price went below the Kumo and may continue to drop this week with support at 12.46 per share.
MBT – a good bullish candlestick setup seen last week but is it enough to turn the sentiment around? I think price movement will just create another lower high
MEG – sideways movement within the 3.54 – 3.96 per share range.
MPI – bears are in control. Buyers may try to push the price up but I think the resistance will just be too strong to break.
MRC – sideways with bullish bias.
NI – tested the newly found support and so far it prevented the price from move further down. Test buy near the support.
NIKL – wait for bullish signal before getting in. It may continue to fall and find support at 7.0 per share
NOW – good setup for the stock after it confirmed the Hammer candlestick with a large green candlestick last week. Price went up by 20.4% to close at 2.66 per share. Kijun Sen line may continue to pull the price up this week but not without some headwinds. The 2.5 per share support may be tested this week. Test buy near the support.
PCOR – showed bullish sentiment last week via Kumo Break. This signaled that the bulls are in control but observe how the price will move once it hits the resistance slope. Currently the stock is moving inside a downward channel. Check the chart below.
PGOLD – Spike may happen every now and then but bears are still in control.
PLC – may try to break the resistance at 1.23 per share this week.
PPC – sideways with bearish bias
PXP – sideways with bullish bias
RWM – broke from the downward channel. Could this be the start of the stocks reversal process or Kumo will be a strong resistance?
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