Philippine Stock Market – Update on selected stocks 2/17/2017

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ALCO – went down by 31.6% to close at 1.06 coming close to its support at 1.00 per share. Price may find support at 1.00 before bouncing back although as of now it could only be used as a fire exit.

ALI – maintains its movement above the Kijun Sen line. Price may take a test at 36.44 per share this week. Next resistance is at 38.62 per share.

ALTSenkou Span B which acts as resistance continues to put pressure on the bulls. Price went down by 17.9% last week while bearish sentiment is on the air.

ANI – bullish sentiment was enforced last week after it went up by 5% and negating the Bearish Harami pattern. Resistances to break are 5.5 and 6 per share. Will it continue to go up and touch 7.0 per share?

APL – the bulls and the bears where undecided at the end of the week. Price stays at 0.059 per share with support at 0.056 per share. Due to last week’s price movement, we think it will continue to move sideways this week.

APX – currently at the support level with RSI or Relative Strength Index at oversold level. You may test buy or wait for a green signal at the end of the week. Next support is at 1.50 per share and a bounce could bring the price at 2.44 per share.

ARA – may continue it slow ascend while we don’t see any bearish signal. Kijun Sen line at 2.98 per share is still attracting the price up.

BEL – continues to show equilibrium between the bulls and the bears. 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.

BHI – sideways with bullish bias

BLOOM – looks like the support is strong. Price went up by 3.8% last week. Test buy near support. The bulls may test the 8.00 per share resistance this week.

CAL – after two large red candlesticks, it seems the bears are tired of bringing the price down. Is it a signal that the bulls will take control? Test buy or wait for the Doji’s confirmation.

COSCO – may proceed in building its handle but Kijun Sen line is still a threat. Test buy near the KSL.

CROWN – sideways with bullish bias.

DAVIN – touched the 6.0 per share before ending at 6.21 per share. Price is likely to continue moving up this week.

DD – bullish bias is still there. It could break the Kumo this week.

DNL – bulls are still in control. Price is likely to continue climbing this week

EEI – after weeks of ascend, looks like the bulls are getting tired. Kumo stopped the price from moving further up and price may retrace this week.

FOOD – sideways with bearish bias

HVN – still not done testing the resistance level.

IS – sideways within the 0.18 and 0.23 per share range.

JGS – price may continue to trade within 71.50 – 76 per share range.

LBC – no bullish signal as of this time. The Kijun Sen line at 13.25 per share continues to pull the price down.

LIHC – sideways with bearish bias unless we see a bullish candlestick pattern at this level, then test buy.

LTG – met some headwinds last week. Price went up as high as 14.90 per share but settled at 14 per share at the closing. It is currently at the support provided by the Kumo. Next support is at 13.19 per share.

MAXS – sideways with bearish bias

MCP – may continue to move up this week but have to test the psychological support first.

MEDChikou Span line is about to shift from bullish area to bearish. Its important to monitor how this line will move this week.

MEG – range trade within 3.54 – 3.96 per share

MRC – went up by 8.1% to close at 0.173 per share but wasn’t able to register a bullish signal after it failed to close above 0.181 per share.

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

PLC – RSI or Relative Strength Index is now at 53. Test buy when you see a bullish candlestick pattern at the end of this week. While it is currently at support level, the Kijun Sen line at 1.15 per share may also pull the price down towards it.

PLC

PLC

RLT – sideways with bearish bias. Currently supported by the Kijun Sen line.
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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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