Philippine Stock Market – Update on selected stocks 6/16/2017

Philippine Stock Market

2GO – it was able to bounce from the Kijun Sen line last Wednesday but it seems it is only creating a lower high. Bearish sentiment is still in the atmosphere. Support is still at the Kijun Sen line at 23.35 per share

AGI – is at the mercy of its support via the Senkou Span A of Kumo based on weekly chart. Although it showed bullish sentiment at the later part of the week, I think it will move sideways for now. Resistance is at 14.81 while support is 14.14 per share

ALI – sideways with bearish bias. Support is at 41 per share while resistance is at 42 per share.

ANI – previous week’s bearish signal wasn’t confirmed which means bulls are still in control. Support stays at 7.8 per share while resistance is at 8.20 and 8.50 per share.

AP – has been declining for quite sometime now but we couldn’t see any bullish signal at this point. Price may continue to go down with possible support at 36

ARA – bumped into the resistance provided by the Kumo and showing bearish sentiment. But this could just be a short retrace before it will continue rising. Support is at 2.50 per share

BEL – still moving inside a downward channel. It touched and bounced from the support slope last Wednesday ang moving halfway towards the resistance slope. This can be seen using the daily chart.

BHI – retraced last week by 3.3% to close at 0.088 per share. Technically still within the support slope. Bullish signals are still intact.

BHI

BHI

BLOOM – resistance at 10 per share proves to be strong for BLOOM. Price may trade the 9.00 – 10.00 range this week.

CAL – sideways with bullish bias. The Kijun Sen Line at 2.40 per share may pull the price up.

CEI – no bearish signal found yet. It may continue to rise this week following the 5.2% rally last week.

CLI – sideways with bearish bias after crossing the KSL from above.

COSCODragonfly Doji found on last week’s closing. Will it bounce from here? It could but may only be short-lived as bearish sentiment is still strong.

CROWN – the resistance provided by the Kumo is quite strong but buyers will continue to break this resistance this week.

DAVIN – a spike may happen every now and then but bearish sentiment is still strong.

DD – dropped 5.1% last week to close at 46.90 per share. Price was pulled by the Kijun Sen line that now acts as support. Will it bounce from here? Bullish signals are still intact.

DMC – sideways with bearish bias. Kijun Sen line at 14.12 per share keeps pulling the price down.

DNL – continues to be bearish with support at 12.00 per share.

EDC – sideways with bullish bias.

EW – no bearish signal found yet although RSI or Relative Strength Index already posted an overbought signal. Selling pressure may be felt this week.

FGEN – sideways with bullish bias. Resistance is at 19.56 per share while support is at 19 and 17.66 per share. Kijun Sen line at 20.87 may help pull the price up.

GERI – continues to be bullish with no red signal as of last week’s closing. This week could be different as holders may lock their profits.

HOUSE – bullish signal found at the week’s close. Could this be enough to reverse the trend? Test buy at current level or wait for the confirmation.

ION – found support at Kijun Sen line found on weekly chart. Price may continue to move up this week with resistance at 2.0 per share

IS – continue to be on consolidation mode but with bullish bias

ISM – took what was gained the previous week but weak bullish signals are still intact.

LIHC – sideways with bearish bias.

LMG – sideways with bullish bias. After weeks of decline, we found a Doji which means bears are weakening while bulls are starting to get strong. Support is at 4.0 per share.

LR – found support at the Kumo’s Senkou Span B and KSL line. No bullish signal yet and price may just move within the bounds of the Kumo.

LTG – went down by 4.9% last week and no bullish signal seen yet. Kijun Sen line at 14.50 per share may pull the price down further.

MARC – range trade within 1.89 and 2.21 per share

MAXS – looks like MAXS will revisit its support near 17.65 per share

MEG – price may continue to correct and find support at 4.0 per share.

MPI – currently at 6.20 per share but could still decline and visit the previous support at 6.0 per share unless a good bounce from last week’s price movement will happen. The 6.0 per share is an interesting area.

MRP – went up by 5.8% to close at 9.50 per share which is above the Kijun Sen line. Price may continue to move up this week. Support is at 9.37 per share while resistance is at between 9.8 and 10 per share.

MSGI – up by 4.1% to close at 3.85 per share. Looking good towards 4 per share. KSL may help pull the price up.

NOW – wasn’t able to break the Kumo and declined by 6.1% last week. No bullish signal at the end of last week’s action. This may continue to decline with support at 2.60 per share.

PCOR – bearish sentiment is quite strong at this time. Currently at support level but may decline to test the next support at 9.20 per share

PHEN – no confirmation of last weeks bullish setup. Support is at 1.90 per share if price will continue to decline.

RWM – failed to secure a spot above 3.10 per share but price is currently at support area. Bulls may take another chance of pushing the price up this week unless 3.00 per share will be broken.

SLI – failed to break away from the Kumo on weekly chart but there is still a bullish sentiment in the air.

SSI – broke the resistance provided by the Kumo. This is a bullish signal called Kumo Break. There might be a test of newly found support which is 3.26 per share. Resistance is at 3.60 per share

X – sideways with a trading range of 7.5 – 8.0 per share
Caveat!

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