Philippine Stock Market – Update on selected stocks 2/10/2017

Philippine stock market

ALI – bullish sentiment is picking up after it closed above the Kijun Sen line. Although the bullish signal is considered neutral, it still shows that the bulls are in control last week.

ALT – went up by 37.3% last week but was stopped by the Senkou Span B which acts as resistance. The price close at the high last week which means the bulls are still in control. Looking to break the resistance this week.

ANI – the newly found support has been tested last week with price declined by 4% to close at 4.98 per share. The bullish sentiment it showed two weeks ago after it broke the resistance slope is still there. Test buy near the newly found support or wait for non-conformity of the Bearish Harami.

ANI

ANI

APL – tested the newly found support at 0.056 per share and has so far held its ground. It may continue to test this week. Test buy near support.

APX – declined by 12.5% to close at 2.32 per share. It close at the low with no apparent bullish signal or support at current level. Nearest support could be at 2.22 per share or around 161.8% Fibonacci Retracement level.

ARA – slowly moving up with the help of Kijun Sen line at 2.98 per share. No bearish candlestick formation as of this time which means price may still go up.

BEL – last weeks movement shows a little effort for the bulls and the bears. They are in equilibrium right now. A large red could mean a retrace for the stock that may visit 2.83 per share but absence of it will bring the price towards 3.60 and 3.80 per share.

BLOOM – is resting on its support right now with no apparent bullish sentiment. The Kijun Sen line at 6.20 per share has a strong force pulling the price down until it will bend.

BPI – still on its ascend and may continue to do so this week.

BRN – last Friday’s price movement brought back the power of the bulls but will it sustain on Monday and the rest of the week? Currently at the support level but I would rather wait for the confirmation of last Friday’s candlestick before entering.

CAL – looks like it is heading towards its previous support at 2.24 per share while we don’t see any bullish candlestick formation.

COSCO – retraced by 3.6% last week. The retrace is a valid one as we are looking at the cup and handle formation. A bounce near 8.76 per share where Kijun Sen line is should be done to be able to form a legit cup and handle

COSCO

COSCO

DAVIN – continued to go down with no obvious bullish signal formed yet. But at 6.00 per share, test buy if you see a bullish candlestick formation. This is a good level for the stock to bounce. If not, next support is at 5.50 per share.

DD – sideways with bullish bias.

DNL – sideways with bullish bias

FOOD – sideways within the 0.87 and 0.96 per share range.

HVN – tested the resistance again but failed to break it. The bulls are not yet done testing.

JGS – currently at support level. Price may trade the 71.50 – 76.00 price range.

LIHC – we didn’t see a confirmation last Monday and price continually went down untle the end of the week. Price is now very near to its 1.00 per share support. Observe price movement at this level.

LTG – continue to move up following the bounce few weeks ago from 127.2% Fibonacci Retracement level. Price may continue to move up with headwinds along the way.

MBT – bulls were hesitant to push the price further up and Kumo was there to give resistance. The outcome, it went down by 5.2% to close at 77.30 per share without apparent bullish signal. Next support is at 75 per share.

MED – met with a headwind last week but bullish sentiment is still intact.

MEG – sideways with bullish bias

MPI – last price movement could be a completion of the lower high. Unless it will be broken this week, price will continue to move within a downward channel.

PGOLD – the bulls tried to push the price up but resistance at 45.33 per share seemed strong. Another test may happen this week.

PIZZA – price may continue to decline and find support at 12 per share.

PLC – RSI or Relative Strength Index still need to loosen up for a healthy ascend once the bulls are done relaxing.

RLT – price is currently moving inside a Symmetrical Triangle based on daily chart with price currently at the support slope. But weekly chart shows bearish sentiment with gap possible to be filled soon.

TUGS – no bearish signal for TUGS as of this time which means price may continue to move up. But RSI or Relative Strength Index is already at 92 on weekly chart. This needs to loosen up a bit.

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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