Philippine Stock Market – Update on selected stocks 1/27/2017
ALCO – still consolidating inside the triangle with no clear direction where to break but if you based it on its RSI or Relative Strength Index, it is now overbought. Consolidation makes its RSI to loosen a bit before it continues to move up.
ALI – it attempted to break the Kijun Sen line but failed to sustain its rally. Price may consolidated within 34.68 – 36.44 for now.
ANI – went up by 8.9% to close at 4.9 per share. It is now at the resistance slope based on its weekly chart. Will 5.0 per share be a strong resistance for ANI? Price is inclined to move up while there is no bearish signal formed yet.
APL – Kijun Sen line has become the resistance for this stock which lays at 0.056 per share. At this point, bulls are hesitant to push the price up while bears are starting to gain control. This is depicted by the Doji candlestick. If we will see a long red candlestick this week, then price will most likely to retrace for the succeeding week.
ARA – continues to be bullish with resistance at 2.74 per share. Next would be the 2.97 per share where the Kijun Sen line is. KSL could also help pull the price up. If you have this stock, just continue to hold while sentiment has not changed yet.
BEL – doji candlestick near the resistance slope could mean a retrace for BEL but not without confirmation. At this point, the bulls stayed passive while bears are actively gaining control. But for traders, getting a confirmation would be necessary.
BHI – sideways with bearish bias
BLOOM – hit the 8.00 level with highest achieved price last week at 8.03 before it settled at 7.90 per share. 8.00 per share is a psychological resistance. If this will be broken, next resistance is at 9.00 – 9.50 per share. Otherwise it will continue to move inside the upward channel
BPI – sideways with bullish bias. Kijun Sen line at 96.70 per share could pull the price up.
BRN – closed at the high. Bearish sentiment we saw last week as erased and bulls are currently in control. It broke the Kumo which is a bullish signal.
CAL – it continued to move up last week adding 3.6% from previous week. No bearish signal found yet which means price is likely to continue moving up.
CEB – range trade within 93.41 – 99.53 per share.
COSCO – still moving inside the upward channel with the potential to reach 9.8 per share but not without headwinds as the stock is in overbought level.
CPG – sideways with bearish bias
CROWN – moving slowly inside the upward channel. It may continue to do this for quite sometime.
CYBR – bearish signal seen on its weekly chart via Kumo Break. Support is at 0.53 per share.
DAVIN – sideways with bullish bias
DD – sideways within the range set by the Kumo or Cloud but with bullish bias as price maintains to hover above Kijun Sen line.
DNL – sideways with bearish bias as bears and bulls maintains its equilibrium.
EDC – weak bullish signal found last week after the price crosses the Kijun Sen line. This bullish signal is considered weak because it happened below the Kumo. Nonetheless, sentiment last week may continue this week.
EEI – neutral bullish signal seen via Kijun Sen Cross but if you notice, the Kumo prevents the price from moving further up. If price will pierced from the Kumo this week, test buy.
EW – went up by 5.3% to close at 20 per share. This is its psychological resistance with another resistance at 20.19 per share. Will EW be able to break it? Next resistance is at 21.50 per share.
FLI – price may touch the 1.61 per share or 61.8% Fibonacci Retracement level support before resumption of its ascend. But don’t rush, make sure you will see a bullish candlestick formation before you test buy.
FOOD – attempted to rise towards Kijun Sen line but failed. KSL is still moving horizontally which means the power to attract the price is still there.
GEO – moving near the 78.6% Fibonacci Retracement level with a Doji. Consider buying if you see a bullish candlestick formation at the end of this week.
GERI – is still moving within the cup formation path.
HVN – sideways with bullish bias. Resistance is at 16.96 per share.
IS – sideways with bullish bias. Flat Senkou Span of Kumo has the power to attract the price.
ISM – the previous resistance at 1.43 per share became the newly found support after the price went up and stayed at 1.48 per share at the closing. A test may happen this week and if the bears can not anymore put the price below the support, price will continue to move up with resistances at 1.50 and 1.68 per share.
JGS – tested the newly found support at 76.02 per share. Bulls were able to support the price at that level and we may see price to move up this week. Still a good test buy will be at the support.
LC – flat Kumo continues to attract the price at 0.239 per share.
LMG – no bearish signal formation seen last week but with RSI at overbought level, expect a very volatile movement this week. Not for the faint of heart.
LTG – went up by 9.4% to close at 13.26 per share. Although it has a good play last week with bullish sentiment is still intact, be careful as it is now at the Kumo.
MBT – may continue to move while the flat Kumo continues to pull the price up.
MCP – price continued to move up and registered another bullish signal. This time via Kumo Break. The Kumo becomes our support. This could be tested this week.
MEG – sideways with bullish bias
MRSGI – sideways with bullish bias. The Kijun Sen line at 4.75 still has the power to attract the price until it will bend.
PGOLD – daily chart shows bearish sentiment after it showed a Gravestone Doji. But for us to say its bearish, we need to see a confirmation by Monday. No confirmation means price will continue to move up. Weekly chart shows bullish sentiment. This two frames suggests that a possible headwind can happen in the very short term while upward trend on longer term.
PLC – may continue to move up. Next resistance is at 1.6 per share.
SBS – price continue to move up last week but ended with a bearish note. A long red candlestick this week will confirm its bearishness. Absence of such candlestick would mean a continuation of its upward trend.
VITA – broke the resistance last Wednesday and tested the newly found support for two day after the break. So far the support holds. Price is likely to move up this week.
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