Philippine Stock Market – Update on selected stocks 2/26/2016

philippine stock market

PSEi – our index is currently fighting to break from the resistance slope. Selling pressure was greater last week but so far the support provided by the Kijun Sen line at 6730 holds. If it will close this week below the support, then we will see index drop again and leave another lower high. Otherwise it will continue to move up and challenge the next resistance at 6915

Philippine Stock Exchange Index

Philippine Stock Exchange Index

2GO – daily chart shows price action is currently inside the big cloud or Kumo. Price may move sideways with range 6.62 – 7.4 per share while weekly chart suggests an upward movement with support at 6.7 per share.

AC – sideways with bearish bias. Notice how the Kijun Sen line prevents the price from moving up

AGF – may continue to consolidate at current range with bullish bias. Resistances are 2.97 and 3.21 per share.

AGI – daily chart suggests a sideways movement for AGI. While Kijun Sen line is moving horizontally, the threat is there for the stock to drop but it should bend this week. Resistance seen at 15 per share while support at 14.11 per share. Price could spike to 16.55 per share if it will be able to break the resistance. But at current price or when Kijun Sen bends.

ALI – sideways movement is seen between 30.43 – 32.51 range with bullish bias.

ANI – with RSI or Relative Strength Index at 80, this stock is already overbought. Support at 5.21 per share in case it will drop. Take extra care if you want to get in.

BDO – sideways within the range of 95.9 and 102 per share.

BEL – weekly chart shows no bearish sentiment as of this time. This means it could continue to go up. Resistance is at 3.5 per share while support is at 3.0 per share

BKR – not much movement of this stock but Kijun Sen line at 1.75 could make this stock exciting.

BLOOM – sideways movement with bullish bias. Support is at 3.57 per share while resistance is at 5.0 per share.

CEI – the stock close the week without the bears. This means price may continue to go up. Resistance is at 0.14 per share. But since it has entered the Kumo, price may move up and down within it.

CROWN – KSL was able to pull the price up but bulls looses steam after hitting 2.4 per share. Bears are beginning to take control as of this time.

DAVIN – bullish signal seen last Thursday after it make a Kijun Sen Cross. No bearish sentiment seen yet which means it will continue to go up. Resistance is at 2.87 per share while support is at 2.64 per share. It may encounter headwinds along the way but as of now it is on track to its PRZ at 3.53 per share which is 127.2% Fibonacci Retracement level. We got this PRZ after the stock retraces to 78.6% Fibonacci Retracement level last Feb 5

DD – is it toppish at current level? Notice on its daily chart that there is a threat created by the Kumo and KSL

DNL – the stock is having a hard time breaking the current resistance. Bulls are becoming week but Kijun Sen line could still pull this up this week towards 9.35 per share. This is the last week KSL will be moving horizontally at that price. Remember that once KSL is bent, its power to attract the price will be gone.

EDC – daily chart shows how the Kumo prevented the price from moving up but notice also that the Kijun Sen line was able to support the price from further going down. We saw a weak bullish signal via Tenkan Sen / Kijun Sen Cross and this might fuel the price to go up. Buy near the Kijun Sen line.

FGEN – may move sideways within 19.8 and 21.2 per share but with a possible spike towards 22-23 area.

GERI – sideways with bullish bias. Price may spike towards 1.12 due to the pull from Kijun Sen line. Buy at current level. Support seen at 0.89 per share.

IDC – still consolidating at current range with bullish bias. Could it enter the 3.x level soon? Support at 2.39 per share in case it will turn sour.

ION – after a couple of weeks trying to break from the resistance slope, it finally broke from it last week. But could it break from the Kumo at 2.58 per share? If it does, we will see it reach around 2.9 – 3.0 per share.

JFC – may continue to go up towards 241 per share. Support at 219 per share.

LC – sideways with bullish bias. Currently at support level. If support will hold, it will go up towards 0.33 – 0.34 area where it will meet again its resistance.

LPZ – resistance at 5.50 per share seems to be a strong one for LPZ. It may go back to 5.07 per share before it will try to break the resistance again. The Kijun Sen line could still help pull the price up.

MAXS – slowly going up courtesy of the pulling power from Kijun Sen line. The 19.15 per share is still a possible target.

MCP – may move sideways while inside the kumo. Tenkan Sen line and Kijun Sen line could be its range aside from the Kumo area.

MEG – sideways with bullish bias. A spike could happen that may break the 3.71 per share barrier and towards 3.97 per share. In case it will turn sour, support is at 3.10 per share.

NOW – still moving sideways with resistance at 0.75 per share. But so far the possibility of a pull towards 0.845 per share is still there. Test buy at current level or at 0.65 per share if it will retrace.

PCOR – currently encountering a headwind which may cause price to move down further. On its daily chart we could see that Kijun Sen line is pulling the price down. But its power will soon diminish. When that happens and you see a bullish candlestick formation, test buy.

PLC – bearish Doji candlestick last 2 weeks ago wasn’t confirmed. PLC went up by 8.5% to close at 0.89 per share. Price may continue to move up so just hold your shares until another bearish signal will appear.

POPI – fell by 7.4% last Friday to close at 2.01 per share breaking the newly found support at 2.10 per share. Let it bleed for now. Support is at 50% Fibonacci Retracement level or around 1.98 per share. Resistance is at 2.05 per share.

PPC – registered a bullish signal via Kijun Sen Cross and is now aiming to break from the Kumo or Cloud. Support is at 2.86 and 2.7 per share. Test buy near support area.

RWM – still moving inside the triangle but so far haven’t fall towards the support level. It has been knocking the resistance slope. Could it finally break it this week?

RWM

RWM

SBS – still consolidating at 4.86 – 5.45 per share. This time the Kijun Sen line has already bent which means there is no more pull from the KSL. There further means that SBS has a bearish bias unless another bullish signal will appear.

SMC – may move sideways this week after it was able to recover in the last two days of trading last week.

SSI – sideways with bullish bias.

SUN – sun may continue to consolidate but there is also a possibility of a spike towards 1.2 per share. In case that will happen, it would be good for a day trade. Keep monitoring.

UNI – may continue to move towards 0.33 and then towards 0.40 per share.
Caveat!

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