Philippine Stock Market – Update on selected stocks 3/10/2017
ALCO – went up by 7.1% last Friday but weekly chart shows indecisive sentiment between bears and bulls. If this will be confirmed, then price will move down but because of last Friday’s movement, there is a greater chance it will not be confirmed.
ALI – will continue to move sideways as it move inside the Kumo but with bearish bias.
ALT – tried to break the Kumo but failed. Sideways movement is seen to occur this week.
ANI – while its target at 7.0 per share is still intact, price may experience headwinds this week.
APL – currently hovering at support level. This is critical. If price will break the support, next support will be near the Kumo found on daily chart.
ARA – we don’t have the magnetic power of Kijun Sen line now but we found a bullish signal via Tenkan Sen / Kijun Sen Cross. Wit price movement in equilibrium at last week’s closing, bulls may be able to push the price up. Is it a cup that ARA is forming?
BDO – may continue to drop and find support at around 119.00 per share.
BEL – time to loosen up that RSI a bit. The stock is currently overbought with RSI or Relative Strength Index at 81. It may test the newly found support at 3.60 per share. Test buy at that level.
BHI – still moving on east direction with trading range set at 0.057 – 0.0714 per share.
BLOOM – support at 7.00 per share proved to be strong. Looks like BLOOM is going to breach from the resistance slope and create a new trend but not without some headwinds.
BRN – bearish sentiment is currently strong.
CAL – Kijun Sen line’s power to attract the price is currently useless. Although we still see a sideways movement for CAL, it has a bearish bias.
CEB – we could see a support at 90 per share but I think stronger support is at 84.69 per share.
CEI – resting on top of the Kumo which acts as support. Test buy when you see a bullish candlestick pattern.
CHP – went up by 3.9% last week. It may continue to move up slowly this week.
COSCO – went down by 3.4% to close at 8.58 per share. Weak bearish signal seen after the price went below the Kijun Sen line. It is currently at the mercy of the support slope provided by the upward channel. No bullish signal seen yet.
CROWN – weak bullish signal is intact and Chikou Span could force the trend to change towards north. Observe how the Chikou Span will move this week. Support is at 2.045 per share.
DAVIN – sideways with bullish bias.
DD – sideways with bearish bias.
DIZ – no bullish signal yet. Price may continue to drop and find support at the Kumo.
DNL – Kijun Sen line at 12.12 per share continues to pull the price down. Test buy near support.
EDC – sideways with bullish bias. It is currently inside the Kumo which acts as the support and resistance or trading range of EDC.
EEI – sideways with bullish bias. We had a weak bullish signal two weeks ago and it is still there.
EW – looks like it is heading towards 22 per share. No headwinds that will stop the price from climbing up.
FLI – sideways movement within 1.70 – 1.61 per share.
FOOD – bearish sentiment is strong at this time.
HLCM – dropped by 5.9% last week to close at 15.88 per share. It is tempting to buy but you could be catching falling knives so better to wait for bullish signal before taking a shot at this stock.
HVN – sideways with bearish bias
IDC – may continue to move up this week but Kumo could be a challenging resistance to break once price hit near 4.36 per share.
IMP – it could be tempting to get in but this is not for the faint of heart.
IS – sideways with bearish bias
JFC – currently near the support level. Test buy or wait for bullish signal. The stock is near oversold level with RSI at 31
JGS – continue to consolidate within 76 and 71.5 per share
LIHC – the Kijun Sen line at 1.25 per share may continue to pull the price up after last week’s headwind.
LMG – sideways with bearish bias unless Kijun Sen line will bend.
LTG – down by 6.8% last week but so far Kumo was able to protect the bulls. But there is no significant bullish or bearish signal, so it is likely that price will move sideways this week.
MAXS – nothing has changed so far. We see sideways movement this week. Trading range at 27.30 – 25.52 per share.
MBT – closed at the low last Friday. I would rather get in if I see a bullish candlestick formation. Next support is at 76.00 per share.
MCP – bullish sentiment is intact at the end of last week. Price may continue to move up and challenge the resistance at 6.00 per share. Next resistance is at 8.00 per share.
MRC – moving inside a rectangular formation with top range at around 0.184 and lower range at 0.159 per share or could be the Senkou Span A of the Kumo.
NOW – went up by 9.2% to close at 3.10 per share. No formation of any bearish signal as of this time which means it is likely to continue moving up. Resistance area starts at 3.20 per share.
PCOR – has been declining and is currently at 127.2% Fibonacci Retracement level which is a good level to bounce. But without bullish candlestick formation, this could be futile. Test buy or wait for the green signal.
PGOLD – sideways with bullish signal.
PIZZA – may continue to move up while we don’t see any bearish signal except that the stock has entered the overbought level with RSI at 78.9 on daily chart.
SCC – toppish at current level. If the Doji at the top will be confirmed, then it could drop with support at 140 per share.
TUGS – went down by 7.2% to close at 3.33 per share but no bullish signal found yet. Could KSL pull the price down towards 2.80 per share?
X – passed the resistance at 9.14 per share which means this is now our newly found support. Price may continue to move up but not without headwinds based on last Friday’s movement. Resistance extends to 10.00 per share and then 11.46 per share.
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