Philippine Stock Market – Update on selected stocks 1/6/2017
ALI – up by 7.8% last week but slowed down last Friday as it reached the resistance area. Senkou Span of the Kumo resists the price from continuing its upward trend. Will it be broken this week or it will fail? Looks like it will move sideways to gather more strength before breaking that resistance.
ANI – slowed down last week but could still move up to complete the lower high point of the downward channel. Not a good time to get a fresh entry unless a strong breakout from the resistance slope will be seen.
APL – Kijun Sen line at 0.056 continues to pull the price up. If the Doji last Friday will not be confirmed, price could easily touch the KSL line.
ARA – sideways with bullish bias. Resistances are at 2.42 per share and 2.74 per share.
BHI – may continue to move up to challenge the previous resistance at 0.077 per share. Newly found support is at 0.0685 per share after it crosses over the Kijun Sen line.
BLOOM – sideways with bullish bias. Support is at 6.00 and 6.33 per share while resistances at 6.47 and 6.68 per share.
CAL – made a good bounce at 127.2% Fibonacci Retracement level. It went up by 12.8% to close at 2.55 per share. Buying strength is still there with resistances at 2.72 per share and 3.02 per share.
COSCO – continue to trade within an upward channel. Will it reach the resistance slope soon?
CROWN – tested the new found resistance at 2.0 per share but so far failed to break it. The spike could be used as a fire exit.
CYBR – may continue moving up this week while Kijun Sen line pulls the price up.
DD – went up by 28.9% to close at 49.50 per share. Kijun Sen line at 49.75 per share helps pull the price up. Now that it completes the Kijun Sen attraction, price may move sideways but still with bullish bias. In case of correction, support is at 45.24 per share.
DFNN – may continue to correct or stay sideways.
DNL – sideways with bullish bias. Trading range is at 10.83 – 11.94 per share
EDC – bearish sentiment is still evident. A spike may happen but may not stay long.
EW – bounced from the Kumo and may continue to move up but 19.00 per share could be a strong headwind for EW.
FLI – went up by 9.8% last week. Next resistance is quite near at 1.70 per share and then 1.77 per share. Sentiment is currently bullish.
FNI – sideways with bullish bias
GERI – bullish sentiment is still there but strong headwinds along the way.
GLO – went up by 11.6% to close above the resistance which was 1650.00. This is now the newly found support. New resistance is at 1830.56 per share.
HOUSE – sideways with bullish bias
IS – Kijun Sen line and Kumo provides a good setup that could pull the price up towards 0.27 per share.
ISM – sideways with bullish bias but 1.43 per share could still be a strong resistance for ISM.
JGS – registered a bullish signal last Friday via Kumo Break. Newly found support is at 73.7 per share. This could be tested or price will continue to move up and challenge the previous resistance at 79 per share.
LC – completes the cup formation. It may create a handle which will touch the Kumo or go up right away towards 0.235 per share but with RSI or Relative Strength Index at 83, the probability of creating a handle is highly regarded. Check daily chart.
LIHC – registered a bullish signal via Kijun Sen Cross last week. Newly found support is at 1.215 per share while resistance is at 1.375 which corresponds to daily KSL that moves horizontally at this level.
LR – may continue to move up but 5.0 per share could pose a strong resistance to this stock.
MAXS – good continuation after the bounce at 78.6% Fibonacci Retracement level. Kijun Sen line was instrumental in pulling the price up which moves horizontally at 28.65 per share. At this point, KSL becomes the resistance so monitor if a bearish candlestick signal will form at this level or not and act accordingly. That is, protect your gains.
MED – interesting action last week for MED after it went up by 12.3% to close at 0.64 per share following the Doji candlestick the previous week. Bullish sentiment may continue this week. Support at 0.61 per share while resistance is at 0.74 per share
MEG – while MEG is currently bullish, it may move sideways as it prepare to break the resistance.
MRC – sideways with bullish bias
MRSGI – may continue to move up and touch the Kijun Sen line at 4.755 per share
NOW – loses steam after trying to break the Kumo. Dark Cloud Cover was seen last Friday.
PGOLD – no bearish signal seen as of this time. Price may continue to move up and touch KSL at 42.90 per share.
PHEN – may continue to correct after it went down last Friday. As of now it is at support level.
PLC – finally broke the 1.23 per share resistance. Next resistance is at 1.60 per share but expect some selling pressure while RSI is high. It needs to loosen up.
STI – sideways with bullish sentiment
VITA – still bullish but headwinds along the way at it approaches the Kumo. It bounced from 78.6% Fibonacci Retracement level and after the Doji candlestick. This bounce could reach a long way but not without headwinds.
X – sideways with bullish bias.
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