Philippine Stock Market – Update on selected stocks 2/3/2017
AC – most likely to move forward after having no clear candlestick formation and price is moving inside the Kumo. Trading range is seen at 790 – 835 per share.
ALCO – no bearish candlestick seen at the week’s closing. This means price will continue to move up but be on the guard as the stock is already on overbought level with RSI or Relative Strength Index at 92. This is not for the faint of heart.
ALI – may move sideways after having no clear confirmation from previous Doji candelstick
ANI – broke the resistance slope and the psychological resistance. It shows bullish bias at the week’s end. Price may continue to move up creating a new trend but not without testing the newly found support. Next resistance is at 5.20 per share then 5.50 per share.
APL – went up by 14.8% to close at 0.062 per share with no bearish signal seen as of this time. Price may continue to move up this week. Support is at 0.056 per share.
ARA – Kijun Sen line is still actively trying to pull the price up towards 2.98 per share.
BEL – no confirmation from the bearish Doji candlestick. Price may continue to move up but 3.37 per share is a stubborn resistance. BEL will try to break this one this week.
BHI – went down by 6.9% and Kijun Sen line continue to bend downwards. The flat Kumo is still there but at this time, BHI is not on the green side. Resistance is at 0.07 per share.
BLOOM – made a retreat last week after hitting the resistance slope. It closed 5.1% below the resistance and is now trading at 7.5 per share. If price will respect its trend, it may go down and touch the support slope but notice that we have a newly found support at 7.0 per share. This is a good test buy area.
BPI – sideways movement within the 93.84 and 90.54 per share range.
BRN – may continue to move up this week with the absence of bearish signal. Bulls continue to push the price up giving a 5.5% gain at the closing. Next resistance is at 1.40 per share.
CAL – went down last Friday by 5.9% to close at 2.57 per share after it found support at the Senkou Span A. No bullish signal found as of this time so be cautious.
CPG – at the mercy of its 0.52 per share support.
CROWN – sideways with bearish bias.
DAVIN – sideways with bearish bias
DD – sideways with bullish bias
DNL – sideways with bullish bias. Weekly chart shows all Ichimoku elements are in still in bullish setup.
HVN – looks like HVN is going to test the resistance this week. Test at current level or wait for the breakout.
IDC – resistance at the flat Kumo shows how weak the bulls are currently. Without bullish signal, price may continue to decline. Don’t buy unless you see a green signal.
IS – looks like it will visit the previous support at 0.18 per share. Price declined by 7.4% last week to close at 0.199 per share. No bullish signal present yet.
LBC – Kijun Sen line is constantly pulling the price down at 13.25 per share until it will bend.
LIHC – visited the support at 1.10 per share with a Doji candlestick. Test buy when you see a confirmation on Monday.
LTG – bump on the resistance created by the Senkou Span. Test buy if it breaks the resistance, otherwise stay away.
MAXS – tried to break the Kijun Sen line but failed. It could still try this week.
MBT – touches the flat Kumo which now acts as the resistance. No bearish signal yet but the resistance could make the bulls hesistant to push the price up.
MCP – continues to stay above the Kumo which is a bullish area but price may move sideways based. Still with bullish bias.
MED – bullish signal found last Friday after it completely move above the Kumo. Price may continue to move up.
MEG – to continue moving sideways within the 3.54 – 3.96 per share range.
MPI – bears continue to control the stock. Price tends to go lower while no bullish signal is seen.
NI – continues to stay bearish with additional bearish signal via Kumo Break.
NOW – failed to move above the Kumo last week. Price may continue to move inside the Kumo
PGOLD – went down by 1.7% testing the newly found support. So far the support holds. Resistance is at 45.33 per share in case bulls will start pushing the price again.
PIZZA – Dark Cloud Cover formation found last week suggesting bears is about to take control. If this will be confirmed this week, then price will continue to decline. Otherwise it will continue to create new highs.
PNX – most likely to challenge the 7.0 per share resistance this week while no bearish sentiment is seen yet.
RLT – no bearish signal as it close at the high last week. Price may continue to move up but be cautious as the stock is already overbought. Not for the faint of heart.
TUGS – indecisive move between the bears and the bulls seen last week. If we see a large candlestick on Monday, it means the bears will take control of the stock, otherwise it will continue to move up.
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