Philippine Stock Market – Update on selected stocks 3/11/2016

Philippine Stock Market

PSEi – weekly chart shows multiple weak bullish signals for the past weeks. While it is currently on its resistance this could still go up further towards 7260

2GO – looks like heading toward the completion of its cup formation? If you want to ride on this be sure to prepare for a rough ride though.

AGI – weekly chart shows that the price is almost touching Kiju Sen line now. After pulling the price up, this line will become its resistance. I think there is still a continuation going up because daily chart registered a bullish signal via Kumo Break last Thursday. Next resistance would be around 18 – 18.48 per share

ALIShooting Star seen last Friday’s close. Will it retrace after touching its resistance at 36 per share?

ANI – support has been strong for this stock but still bearish sentiment is evident. This may go sideways for now.

BEL – threat from the Kijun Sen line at 2.84 is still there. Last Friday’s candlestick is not a confirmation of the previous candlestick which means bears are still in control.

BKR – still moving sideways but KSL is still there trying to pull the price up. Hold unless indicators will change.

BLOOM – went up by 3.7% last week but bullish sentiment is not strong even if it close above Kijun Sen line. This week could be a test if bulls are really in control. Support is at 4.95 per share while resistance at 5.0 – 5.3x per share

BRN – may have a spike this week towards 1.0 per share. So far the price is inside the Kumo based on its weekly chart and KSL is still moving horizontally at 0.835 but will soon bend. This will negate the bearish pull from KSL.

COSCO – may continue to move sideways with Kumo or Cloud as its range

CPG – sideways movement within 0.53 – 59 per share

CROWN – Kijun Sen line has been preventing the price to go up further but the Senkou Span B is keeping its ground to support the price. Where will CROWN go? Since we have a Doji candlestick then we will monitor for confirmation. If price will close below Senkou Span B (2.41 per share) this week then its not good for CROWN, otherwise test buy. If the bearish candlestick (Doji) will not be confirmed, it means it will continue to go up and you should be riding on it.

CROWN

CROWN

DAVIN – the stock went down by 7.9% last Friday to close at 5.71 per share. It may move within the 5.50 – 6.64 range. So if it does, you will have a good playing ground to day trade. Not for the weak of heart.

DAVIN

DAVIN

DD – already toppish at current level. There could still be an opportunity to go up but the risk is already high at this time and newcomers may not be in the best position. RSI or Relative Strength Index is at 89.1 on daily chart and 86 on weekly. This means the stock is already overbought.

DNL – currently at the resistance level. Will it create another lower high or it will proceed? If price will drop this week and register a long red candlestick then bearish sentiment will be confirmed. Otherwise it will continue to move up. Next resistance could be at 9.3x

EDC – went up by 5.1% last week and may still continue to go up this week. Next resistance is at 6.58 per share while support is seen at 6 per share.

EMP – still has the legs to move up. Immediate resistance at 8.32 per share. This Kijun Sen line has been a factor in pulling the price up but once price will touch this line it will become its resistance.

FGEN – may still go up towards 23.x but may need to consolidate for a while after breaking the Kumo last Friday.

FLI – went up by 10.5% last week. We don’t have any bearish signal yet but we are approaching resistance slope so be careful. If a bearish candlestick will form at resistance slope then it might be good to protect your profit.

GERI – finally went up courtesy of Kijun Sen line. It close near 1.12 which is where KSL is. This will now be our immediate resistance. Bullish sentiment is still around.

IDC – sideways with bullish bias. The 2.91 per share will be its support while 3.7 will be its max for spike.

ION – may move sideways while the Kijun Sen line and flat Kumo try to pull the price down.

JFC – may still be able to pull it up towards 241 while no bearish candlestick formation has been found. so far but be careful because the stock is about to enter overbought level.

LC – still moving sideways with a threat from Kijun Sen line below but soon this line will bend and the threat will be gone.

LPZ – could still climb to 6.44 per share. Notice how the Kijun Sen line pull the price up. While it is moving horizontally, the strong magnetic power of KSL will attract the price. In this case, price will go up. Support is at 6 per share.

LR – could still climb towards 8.5 per share but may encounter headwinds this week. Support is see at 7.78 where Senkou Span B is

LTG – sideways with bearish bias because of the threat at 13.2 from Kijun Sen line. Threat will be gone if price will hit above 16.78 per share because it will cause the KSL to bend up.

MARC – went up by 8.5% to close at 2.31 per share. Will there still be a continuation for MARC? Weekly chart shows some bearish sentiment after the KSL stopped the price from closing above it. Notice also that we have a Doji candlestick which resembles indecisiveness of the bulls and the bears. In case we will see a large red candlestick this week, then bearish sentiment will be confirmed. Otherwise it will continue to move up and approach 3.0 per share.

MAXS – after few weeks finally the Kijun Sen Line was able to pull the price up. MAXS went up by 11.8% to close at 19 per share. We don’t see any bearish sentiment as of this time so meaning it could still go up. But since it is now at resistance area, expect some headwinds. If we will see a bearish candlestick formation at the end of this week, then bears will be in control.

MBT – may still be able to reach 87.5 – 90 area to complete the channel it is currently moving in. But not with challenges along the way.

METROBANK

METROBANK

MCP – registered a bullish signal via Kumo Break last Thursday and MCP continue to move up with 9.8% at the close last Friday. Looks like 3.3 – 3.8 will be a big challenge for MCP.

MEG – went up by 8.4% to close at 4.14 per share and registered a weak bullish signal via Kijun Sen Cross. This happens when price went up and close above the Kijun Sen line. Next resistance is around 4.19 per share. As of now we don’t see any bearish signal but monitor once it reach the resistance. It might create a lower high or ignore the downward channel and create a new trend.

MRSGI – after the rally on previous week, last week we see an indecisive mood between the bulls and the bears. Will it retrace or just test the newly found support? Game plan would be that if price will close this week below 3.69 per share, then bears will be in control so you don’t have to be at the center of the play. But if 3.69 per share will hold then a possible continuation of the rally will happen the following week. You could test buy near the support line and monitor price movement.

NI – threat from the Kumo and KSL is still there but since price is near its support right now, its a good time to monitor this stock closely. Bullish candlestick pattern at the support could mean price has bottomed already. Test buy when you see it.

NOW – may move sideways with bullish bias especially if it will close above 0.85 per share this week. Otherwise it will go back to 0.755 per share where the flat Kumo awaits.

PGOLD – the stock went up by 9.3% to close at 36.95 per share last week. It made a Kumo Break which is a bullish signal but just slightly above Senkou Span. For those holding this stock, you may wait if price will close above the Kumo or it will get inside the cloud again. If it will go above the Kumo then it may hit 39 eventually, otherwise it will move sideways within the range set by the Kumo or Cloud.

PIP – registered a 10.8% gain to close at 3.59 per share last week. Kijun Sen line was able to pull the price up. Could it still reach 4.0 per share? Maybe it will form a cup. But for now, monitor how the price will react when it hit 3.7 per share because that is our immediate resistance.

PLC – bullish sentiment is still there after it crosses the Kijun Sen line 3 weeks ago. The support (0.84 per share) has been tested this week and was able to hold so far. Are we looking at 1.30 per share soon?

POPI – may contine to fall and seek support at 1.9 – 1.8 per share. Resistance is at 2.10 in case it will go up

PPC – bears are currently in control after it broke the two supports (Kumo and KSL) Since it doesn’t register any bullish candlestick both on daily and weekly chart, its wise not to enter yet. Resistance is at 2.67 per share. In case it will continue to fall, next support will be at 61.8% Fibonacci Retracement level or around 2.5 per share.

PSPC – may continue to move sideways within the 1.6 – 1.7 per share range with bullish bias.

RRHI – finally the price went up and visits the resistance slope. Will it continue to respect the current trend or it will breakout from the downward channel? What you should monitor here is that if a bearish candlestick will appear at the end of the week then mostly likely it will fall, otherwise it will continue to go up. IF it will fall, you should monitor the KSL if it will be able to support the price, if it will then test buy.

RWM – went up by 7.2% to close at 4.01 per share. Notice on it weekly chart that price was prevented by the resistance slope and the Kijun Sen line. Could it break free this week? Test buy at current level. Support at 4.0 per share.

SBS – support at 6.0 per share but so far no bearish signal seen on weekly chart although a threat coming from KSL on daily chart should be monitored.

SECB – bullish signal registered last week via Kumo Break but may test newly found support soon because the stock is entering overbought level.

SLI – may continue to test newly found support at 0.83 per share after it break the Kumo the previous week. The possibility of completing the cup is there which means it could climb around 0.96 – 1.02 per share.

SLI

SLI

SMDoji candlestick seen this week. Is it time for SM to retrace? Daily chart also shows some bearish bias with threat from KSL at 874.75 per share.

SMC – may continue to drop towards 73.12 per share unless KSL will bend

SSI – Kijun Sen line at 4.74 per share could still pull the price up.

SUN – may continue to go up and hit 1.1 – 1.2 range. This is because of the pulling power of Sengkou Span and Kijun Sen line.

UNI – the KSL at 0.33 per share is still preventing price to move up. Price may move sideways at this time.

VLL – may continue to move up and hit 4.77 per share and could still continue moving up after that. Test buy at current level or near 4.39 per share

Caveat!

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