Philippine Stock Market – Update on selected stocks 6/30/2017

Philippine Stock Market

AGI – sideways within the bounds of the Kumo while the price is inside it. No significant bullish or bearish candlestick formation.

ALCO – went up by 4.5% last Friday and touched the Kijun Sen line at 1.22 per share before settling at 1.17 per share. The resistance remains 1.22 per share and may be tested again this week. 1.50 per share is still a possible price to be visited based on current price movement.

ALI – recovered from falling further as bulls push the price up above 39.00 per share. But bearish sentiment is still in the air as Tenkan Sen is about the cross the Kijun Sen line from above.

ANI – still moves sideways above the support. At this point we dont see bearish nor bullish candlestick formation which means a sideways movement is likely to continue.

ARA – found support at the Kumo and a possible bounce from here. You may wait for the price to break from the Kumo or test buy at support which is 2.50 per share.

BEL – sideways with bullish bias

BHI – sideways with bullish bias. Resistance is at 0.091 per share while support at 0.086 per share.

BLOOM – may continue to consolidate within the 8.73 and 9.50 per share range.

BRN – fell by 14.9% to close at 1.31 per share testing the support at 1.30 per share along the way. So far the support holds but we don’t see any bullish signal from our candlesticks yet.

CLI – after successive fall this week and breaking from Kijun Sen line, bulls show some muscle last Friday that could be followed this week if it will be confirmed. Resistance is at 5.55 per share while support is at 5.30 per share.

COSCO – sideways with bullish bias. The Kijun Sen line at 8 per share my pull the price up.

DD – Kijun Sen line helped the price not to go down any further and sentiment may change for this week’s trade. Test buy at current level or wait for a break from the Kumo which is at 49.85 per share.

EDC – may continue to move sideways this week.

EW – after successive rise, the bulls are losing steam and price may continue to descend following the 3.7% decline last week.

FGEN – sideways within the 19.56 and 17.66 range.

FNI – tested the resistance presented by the Senkou Span A but failed to break it. There could still be a test this week so monitor this stock. Test buy when Kumo is broken.

GERI – range trade between 1.25 and 1.30 per share

H2Obearish Harami found on last week’s trade. If it will be confirmed, the price will continue to move down with support currently at 5.0 per share. Although 6 and 5.5 are also considered psychological supports.

HOUSE – may continue to rise and touch the Kijun Sen line at 6.88 per share. From there, the KSL will act as resistance.

ION – poised to return to its support at 1.5 per share based on how it performed last week. The price movement is still within the bounds of the rectangular pattern it has been respecting.

JGS – may continue to go up this week.

LTG – interesting setup found for LTG. Notice we have a Doji candlestick at support level. This could be used as a bouncing board for LTG. Test buy with it close above the Kumo or test buy at current level.

LTG

LTG

MAXS – continuation of its consolidation. Range is 21.32 and 17.65 per share.

MEG – found support at 4.20 per share but no bullish candlestick setup yet. Might as well wait for the green signal before getting in.

MPI – went up by 3.9% last week and will likely to continue moving up. Next resistance is at 6.55 per share.

MRC – bullish signal via Kumo Break last Friday as it went up by 5.3% to close at 0.40 per share. The likelihood of going up further is greater at this time.

MRSGI – Doji is found at last week’s closing but if this will not be confirmed, price will continue to go up and challenge the 5.0 per share psychological support.

MWIDE – Kijun Sen line at 17 per share may pull the price down.

PCOR – is sitting at 61.8% Fibonacci Retracement level but the last candlestick created and its setup is not a strong bullish setup so this may just move sideways. Still, monitor this stock for a possible break from Kumo.

PGOLD – sideways with bearish signal. Support is at 44.27 per share while resistance is at 45 per share.

PIP – may continue to move up this week. Resistance is at 3.46 per share while support is at 3.20 per share.

PNX – sideways with bearish bias. Kijun Sen line at 8.60 per share is a threat.

RCB – sideways with bearish bias.

RWM – although we have bullish signal via Tenkan Sen / Kijun Sen Cross, it is considered weak because it happened below the Kumo. Plus we also have a Doji candlestick which means the bears and the bulls are still in equilibrium. It would be anybody’s game this week.

SBS – there could be a spike after the fall last week but it may not be enough kick to bring the price up significantly after the 5.4% decline.

SGI – found support at 1.43 per share. Test buy if it shows bullish candlestick on Monday, otherwise stay away. You might just be catching falling knives.

SSI – sideways within 4.00 and 4.20 per share range.

VLL – sideways with bearish bias

WLCON – sideways with bearish bias

 

Caveat!

Leave a Reply