Philippine Stock Market – Update on selected stocks 2/24/2017

philippine stock market

ALI – tried to break from consolidation area but wasn’t able to sustain its rally after it hit as high as 37.95 per share. Price went back near its previous close. The support level at 34.68 per share may be tested this week.

ALT – may continue to move sideways following last weeks price movement. Trading range seen at 7.3 – 8.00 but range could expand to 8.40 per share.

ANI – may continue to rise and challenge the bears at 6.00 per share. Currently challenging the 5.50 per share resistance level.

APL – sideways with bearish bias

APX – after consecutive declines, bears seem to have lessen its strength and bulls could snatch the lead. A possible bounce at this level. Test buy at this level but keep in mind the next support is at 1.50 per share in case it will turn sour. Next resistance is at 2.44 per share.

ARA – fell by 3% to close at 2.6 per share. Although Kijun Sen line is still there to pull the price up, Chikou Span is playing a different tune after it moves below the price path.

AT – sideways with bearish bias

BEL – went up by 5.1% to close at 3.50 per share which is its immediate resistance. Price went up as high as 3.66 per share but settled at the resistance. Does this mean the bulls are still in control? as of now we see any bearish signal which leads us to believe the uptrend is still.

BHI – sideway with bullish bias

BLOOM – the bulls refuses to give in with the bears. Price movement shows that BLOOM is likely to move sideways with bullish bias.

BPI – after successive ascend, BPI met its resistance last week with bulls’ strength weakening while bears starting to gain strength. This is shown by the Doji candlestick. But this needs a confirmation. Bearish sentiment will be confirmed if we see a large red candlestick at the end of this week.

CAL – sideways with bullish bias. Trading range is within 2.24 – 2.72 per share.

CEB – range trade within 93.41 – 99.53 per share.

COSCO – went up by 2.3% to close at 9.20 per share. Looks like it is heading towards its resistance slope

COSCO

COSCO

CROWN – looks like the bulls hit a strong resistance provided by the Kumo but at the same time, Tenkan Sen and Kijun Sen line are about to cross which could be a bullish signal. This leads us to think that the bulls will try to break the kumo this week.

CYBR – sideways with bearish bias.

DAVIN – sideways with bearish bias

DD – Kumo break didn’t happen last week. There is a bit of bearishness shown last week. Just hold you position for now.

DNL – went up as high as 13.64 per share but settled below the previous week’s close at 12.96 per share. Bearish sentiment is looming. In case of a retrace, supports are seen at 12.50 and 12.00 per share.

EDC – after several ascend, price may retrace following last Friday’s performance. RSI or Relative Strength Index is already at overbought level. Might as well lighten it up a bit before continuing its ascend. It might also move sideways while inside the Kumo (see weekly chart).

EEI – sideways with bearish bias but may just conform within

EW – sidways with bullish bias after it move above the Kijun Sen line

FLI – went down by 8.3% to close at 1.65 per share with some Ichimoku elements showing red signals. Support is at 1.61 per share while resistance is at 1.70 per share provided by the Kumo.

FNI – sideways with bearish bias

FOOD – bearish sentiment is still there.

HOUSE – price is currently near the 161.8% Fibonacci Retracement level. You notice the price was on this level the previous week with large red candlestick. This time we see a green candlestick which could mean bulls are trying to gain control. A follow up green candlestick at the end of this week could mean an reversal and it would have a greater impact if price will close above 7.00 per share.

HVN – looks like the bulls are tired of trying to break the resistance. It went down by 2.4% to close at 16.38 per share. Kijun Sen line at 14.61 per share may pull the price down.

JGS – at 78.00 per share, JGS couldn’t seem to break it and may retreat instead but a signal from Tenkan Sen / Kijun Sen Cross could change bulls behavior this week. Hold on to your position if you have but vigilant.

LBC – sideways with bearish bias. The Kijun Sen line at 13.25 per share continues to pull the price down.

LIHC – currently at 78.6% Fibonacci Retracement level but we don’t see any bullish candlestick formation yet. As of now it is likely to continue moving down unless bullish signal will appear. Next support is at 0.76 per share.

LMG – no bearish candlestick seen as of last week’s closing. It close at the high last Friday with 12.4% gain from previous day. Price has a greater chance of continuing its ascend this week. But this is not for the faint of heart. RSI or Relative Strength Index is at overbought level.

LPZ – sideways with bullish bias. Last Friday we saw a green signal via Kumo Break.

LTG – after the headwind the previous week, the bulls let the bears eat dust and leaves a 7.1% gain from previous week. Neutral bullish signal was also found last week after the price went above the Kijun Sen line.

MAXS – continued to follow the status quo set last week and more likely to happen this week.

MBT – range trade between 78.00 and 82.17 per share.

MCP – sideways with bullish bias

MED – same as last week, Chikou Span line is about to shift from bullish area to bearish. Its important to monitor how this line will move this week.

MEG – without significant bullish or bearish signal, price may just move sideways within 3.54 and 3.96 per share.

MPI – sideways with bullish bias.

MRC – bears are controlling the stock at this time. Chikou Span line’ course is heading below the price movement. Unless a big spike will happen that will change the Chikou Span’s course, then we will not get into bearish mode.

NOW – failed to break the Kumo or Cloud. Price is likely to move sideways within the Kumo’s area.

PGOLD – finally broke the resistance at 45.33 per share. It now becomes the support. This newly found support may be tested this week but looks like a strong one. Next resistance is 49.78 per share.

PIZZA – sideways with bullish bias. Kijun Sen line at 12.56 per share on daily chart may pull the price up.

PLC – went up by 10.9% to close ATH at 1.42 per share. Price is likely to continue going up this week. A touch above 1.46 per share would bend the Kijun Sen line and make its magic useless.

RLC – range trade within 0.60 per share and 0.68 per share.

SECB – may continue to decline this week while no bullish signal is formed.

TUGS – went down by 6.3% to close at 3.70 per share. Looks like the cashing in will continue this week.

Caveat!

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