Philippine Stock Market – Update on selected stocks 5/26/2017

Binary Options

ACR – may continue to move up and satisfy its potential reversal zone at 1.7x per share which corresponds to 161.8% Fibonacci Retracement level.

AGI – pierced through Kumo signaling a bullish sentiment on weekly chart. It could form a cup formation with its 2nd tip near 17 per share.

ALI – may continue to move up and retest the resistance at 42.00 per share

ANI – already hit the Potential Reversal Zone (PRZ) last week. So far the sentiment is still bullish but selling pressure may be felt this week as traders take profit. RSI or Relative Strength Index is at 88.80 on daily chart.

AP – revisiting its last years support area. The stock is already oversold, can we expect a bounce?

APL – still holding on at support area while consolidating. This is a stock to monitor but don’t be in a hurry to get in.

ARA – may still go up but resistance at 2.51 per share could be strong for ARA this time. To those who already got in, just monitor how the price action will react when it hits that area. If bearish candlestick will appear, then that is a signal to sell. Otherwise, enjoy the ride. To those who would like to get in, wait for the Kumo Break.

BEL – may continue to move inside an upward channel with price near the support slope

BHI – Kumo helped BHI floats above the support area. Price went up by 4.7% last week to close at 0.089 per share. Looks like it will test the resistance at 0.11 per share.

BLOOM – still has the energy to continue moving up this week after breaking the psychological support 10.00 per share. Heading towards 11.00 per share resistance and our potential reversal zone.

BRN – continues to respect the current trend. Notice on its weekly chart, the price is moving inside the downward channel.

CAL – bullish sentiment seen on CAL last week after it advances by 6.1% but daily chart suggests that the stock is experiencing headwinds. There are a few elements from Ichimoku system that we need to monitor. First the Tenkan Sen line that may cross the Kijun Sen line. This will provide a weak bullish signal if this happens. Another is the Chikou Span that may cross the price movement. Another bullish signal if this will happen. Monitor these lines.

COSCO – was able to neutralize the bears that push the price down. With the help of the Kumo, price stabilized at 8.19 per share. Although we are still seeing a downward trend for COSCO, a spike may happen this week.

DAVIN – sideways with bearish bias

DD – sideways with bearish bias but spike may happen every now and then especially if the Hammer will be confirmed by Monday.

DNL – sideways with bearish bias

EEI – showed bearish sentiment based on last candlestick on weekly chart. But if this will not be confirmed, price will continue to go up and hit 11.30 per share which is 127.2% Fibonacci Retracement level. An area we consider a PRZ.

EW – no bearish signal found yet but with high RSI, selling pressure may soon be felt.

FGEN – revisits its support last year. Test buy at current level but be attentive of its movement. Next support is at 17.50 per share in case it will turn sour.

IMI – after soaring high with buyers trying to get a piece of IMI, price may retrace soon as the stock becomes overbought. Support is seen at 9.00 per share which is a psychological support.

ION – may continue to move up and challenge the previous resistance at 1.94 per share

MAXS – bullish candlestick formation within support area. Test buy near current level. RSI or Relative Strength Index is at 21 which means the stock is oversold. Buyers may come soon.

MAXS

MAXS

MBT – after successive ascend, we are looking at a Doji candlestick which could mean bulls are getting weaker while sellers are getting stronger. A confirmation via long red candlestick will fuel up the bearish sentiment.

MCP – still going strong as it close at the high. Up by 18.3% last week to close at 9.70 per share. But one should now be careful as RSI is quite high now. A price of 15.00 may be achievable but not without retrace.

MEG – a bullish signal seen on weekly chart via Kumo Break. So far no bearish signal seen yet which means price may continue to move up.

MRC – sideways with range at 0.34 – 0.39 per share

VITA – may continue to move up as we don’t see any bearish signal yet.

X – may continue to trade this week within the 7.89 and 8.52 per share range
Caveat!

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