Philippine Stock Market – Update on selected stocks 4/01/2016
AC – sideways with bullish bias
ACR – revisits the previous low. If bullish candlestick will appear at this level, it might spike just like last time. Otherwise stay away
AGI – a test of newly found support is what happened last week and so far it holds. The KSL at 15.77 is still an active threat but may bend this week. Notice that on daily chart you see a Doji at 61.8% Fibonacci Retracement level. This could also trigger a bounce towards 17.63 per share if it will be confirmed and before going towards 18.48 per share. Test buy at this level
ALI – sideways movement seen this week.
ANI – bullish piercing line on weekly chart wasn’t confirmed but may still trigger a spike if the support slope will hold. If you look at the weekly price movement, we have an upward channel with price near the support slope. The bullish setup on previous week was not confirmed but it was not negated as well. Test buy near support slope.
APC – Dark Cloud Cover pattern seen on its weekly chart. It may go down with support at 0.53 per share. Notice also on its daily chart we have KSL moving horizontally at 0.53 per share
BEL – may retest resistance at 3.25 per share this week
BHI – after hitting the Kumo or Cloud it may move sideways with bearish bias
BRN – may still reach higher but with RSI entering overbought territory, expect some selling pressure. Not for the faint of heart.
CEB – resistance provide by the Kumo seemed strong at this time. Price may move sideways with bearish bias
CROWN – sideways movement within 2.41 and 2.59 per share
DD – sideways with bearish bias
DIZ – may continue to move upwards to retest resistance at 9.0 per share
EDC – no bullish candlestick setup yet but monitor how price will react at this level. Last Friday it tested the support at 5.7 per share. When it show bullish candlestick, test buy
FLI – still have juice to squeeze but may start feeling the headwind. Support at 1.76 per share
FNI – another test for breakout from the resistance line last week but still not strong enough. It close at 0.83 per share lower than the 0.89 per share resistance. Watch closely when it touch 0.80 per share. If there will be a bullish candlestick setup, test buy
IMP – after closing the gap last week, will it close another gap at 19 – 15? Bullish sentiment is still not seen so there is a bigger chance it will fill the gap.
ION – broke the support provided by the Kijun Sen line at 2.76 per share and also the support slope. Next support to watch is 2.58 per share. Let it bleed for now. Test buy when it reaches the support and bulls start to gain control.
IS – is it ready to bounce? This week it touches the support at 0.27 per share and has so far held its ground. Upper range is at 0.32 per share
JFC – sideways with bullish bias
LC – touched based on 38.2% Fibonacci Retracement level based on its daily chart. Could it bounce this week? Next support is at 0.24 per share so don’t rush. Wait for the green signal.
LPZ – sideways movement within Kumo or Cloud
LR – support provided by the KSL was able to hold. Test buy near support.
MCP – sideways with bullish bias at this time. It is at support slope.
NOW – went almost to the ceiling before it loses steam and close below the 1.30 per share resistance. Will there be more plays for NOW? Maybe it could be a rough ride. Just trade within the day if there’s momentum.
PIP – sideways movement with bearish bias
PLC – support is at 0.84 per share based on weekly chart. If bullish sentiment is strong at this week’s close, then we will see it at 1 per share then 1.26 per share. Otherwise it will continue to go down towards 0.74 per share.
RCB – after hitting the previous low posted last October. Bulls start to creep in. Is it enough to push the price upward? Test buy near support
SBS – still trading within the 5.87 and 6.28 per share range
SECB – almost hit the 180 per share mark. The stock already entered the overbought territory based on weekly RSI or Relative Strength Index. Selling pressure could be felt this week. If 180 per share will be breached, next resistance is at 196.46 per share
SLI – continues to move up to form the cup
SUN – sideways with bullish bias. It is moving inside the upward channel based on daily chart.
TECH – Kijun Sen line at 21.85 per share may pull the price up. It needs to break the 19.9 resistance first.
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