Philippine Stock Market – Update on selected stocks 4/21/2017

Philippine stock market

AC – sideways while maintaining its bullish sentiment.

ACR – no bearish signal seen after it went up and close at 1.56 per share. Chart history shows a resistance at 1.60 per share so this is something you have to monitor. Aside from that we have a resistance provided by the Kumo. Absence of bearish sentiment at these resistances will push ACR to 1.7x level.

AGI – may continue to move up following the 2.7% ascend last week. Bullish sentiment will be fortified if a cross between Kijun Sen and Tenkan Sen line will happen. Chikou Span is also about to cross over the price movement. Monitor these lines and use it as your trading guide.

ALCO – sideways with bullish bias. Next resistance is at 1.60 per share while support is at 1.42 per share.

ALI – sideways movement seen with trading range between 34.6 and 36 per share.

ANI – went up by 4.8% last week to close at 5.66 per share. Resistance is at 6.0 per share which may be tested this week.

APL – sideways with bullish bias due to possible attraction from Kijun Sen line

ARA – may trade the 2.30 and 2.50 range this week.

BEL – after reaching its PRZ, BEL is consolidating and trying to gain strength for the next ascend. Support is at 3.80 per share.

BLOOM – currently showing bearish sentiment but if last week’s candlestick will not be confirmed, PRZ of 11 could be hit soon.



BRN – sideways with bullish bias

DAVIN – sideways with bearish bias. Chikou Span has entered into the bearish zone 2 weeks ago. A spike could be used as a fire exit.

DD – bearish sentiment is still evident although a possible sideways movement will occur while it is inside the Kumo.

EDC – sideways with bullish bias

ISM – went up by 6.6% to close at 1.45 per share. Price may continue to move up this week

JGS – no bearish signal seen last week which means it is likely to continue to move up this week.

LIHC – Chikou Span is about to cross the price movement from above. This is a bearish signal if it happens. Adding bearish sentiment to an already bearish action.

LR – sideways with bearish bias

MBT – range trade between 82.5 and 84.5 with bullish bias

MCP – may continue to move up and challenge the 7.0 resistance and next is 8.0 per share but that won’t happen without a retrace since RSI or Relative Strength Index is already at overbought level

MEG – may continue to move up and challenge the Kumo at 4.25 per share.

MRC – finally reached (and exceeds) its PRZ at 0.36 per share. This level is now our immediate support. Expect headwinds along the way as more sellers may want to cash out their profits. RSI is at 90

NOW – is visiting its support slope again. Test buy if you see a bullish candlestick, otherwise stay away for now.

PCOR – found support provided by the Kumo and Kijun Sen line. Could this be the springboard?

PGOLD – is currently at support level 41.65 per share with price dropping to 41.75 per share last week or a 1.1% decline. No bullish signal seen yet which means PGOLD is likely to drop. Test buy if you see a bullish signal at support level. Otherwise, let it bleed for now.

PIZZA – went up by 3.3% last week and is likely to continue its ascend this week but not without headwinds.

PLC – went down by 4.9% to close at 1.54 per share. Coming from the resistance at 1.60 per share, price may continue to retrace at this time.

STI – declined by 6.4% to close at 1.03 per share last week. Price may continue to drop while we don’t see the bulls. Kijun Sen line at 0.98 per share is an interesting line to watch.


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