Philippine Stock Market – Update on selected stocks 4/29/2016

philippine stocks exchange

BHI – after the week’s battle, looks like the bulls are in control. Notice the Doji candlestick found at its weekly chart at the support line, this could mean the bears are now exhausted and the bulls starting to take control. If we will see a large green candlestick this week then the bullish sentiment of Doji candlestick will be confirmed. Test buy at current level. If price will break the Kijun Sen line, then that will be another story.

BKR – after rallying early last week, BRK looses steam and showing bearish sentiment. Notice how the Kumo or Cloud was successful in resisting the price.

BLOOMSenkou Span B continue to provide support for BLOOM but is it strong enough? Based on last Friday’s movement we could see bearish bias. Resistance is at 4.44 per share.

BRN – support provide by the KSL at 1.12 per share was able to prevent the price from falling hard. There is still no bullish candlestick formation so it is better not to get in immediately. Monitor what will happen this week. If bullish pattern will appear, then test buy. Else, look for another stock.

COSCO – retraced by 8% last week and broke support provided by the Kumo. It is still within the upward channel but may find stronger support before it will continue to move up. Will it be 7.85 per share that will provide strong support?

COSCO

COSCO

CROWN – KSL continues to provide support but it seems this stock will just move sideways this week.

DAVIN – sideways with bearish bias. Kijun Sen line at 4.16 per share may pull the price down.

DD – may move sideways this week and revisit lower point of the range.

DNL – fell by 1.6% to close at 9 per share where our support is. Will it bounce from here?

FLI – after weeks of going up, looks like bears are now in control.

FNI – may move within it current range which is 0.89 – 0.97 per share.

ION – still moving near 78.6% Fibonacci Retracement level. Last week’s movement suggests a sideways movement for this week. Resistance is at 2.48 per share while support at 2.27 per share.

LC – weekly chart shows bullish bias on LC after it went up by 7.3% leaving a Bullish Piercing Line candlestick formation. Although we still see resistance provided by Senkou Span B, bulls are currently in control. If this week’s price will close above current close, then it would be a good signal for the holders. Test buy at current level.

LC

LC

MCP – is having difficult time going back into the upward channel. This may instead move sideways while inside the Kumo.

PGOLD – threat towards 38.9 per share is looming. This could be done by the KSL’s pulling power.

PLC – may continue to move sideways but bullish bias is still there.

SLI – is currently creating a handle for the cup

VITA – may continue to drop and find support at 0.83 per share or 78.6% Fibonacci Retracement level. Resistance is at 0.93 per share.

X – threat coming from Kijun Sen line is still there. Price may continue to drop towards 15.7 per share

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