Philippine Stock Market – Update on selected stocks 6/9/2017

Philippine stock market

ALI – weekly chart shows no bearish sentiment as of this time which means price may continue to go up this week although with a bit of reservation following the two last Doji candlesticks last week

ANI – this stock has been holding on at current spot for a week now. RSI or Relative Strength Index suggests that stock is already overbought and defenders may soon give in with the sellers. Support is at 7.80 per share.

APL – sideways with bullish bias

ARA – sideways with bullish bias

BEL – moving inside a downward channel with price near its support. Price may go up this week and challenge the resistance slope.

BHI – moving inside an upward channel. It bounced from the support slope last week and made a 5.7% run to close at 0.092 per share. Price may continue to move up this week.

BHI

BHI

BLOOM – failed to close above 10 per share but bullish signals are still intact.

BRNKijun Sen line at 1.325 per share keeps pulling the price down. This is a current threat unless the line will bend.

CAL – looks like CAL’s Cup and Handle is on track. It is currently building the handle.

COSCO – bearish sentiment is getting stronger. No bullish signal found last week.

CROWN – Doji candlestick found last week but if this will not be confirmed, price may continue to rise and challenge the resistance at 2.205 per share.

DD – sideways with bullish bias. Chikou Span changes position last week and shows bullish signal.

DNL – sideways with bearish bias

EW – sideways with bearish bias due to selling pressure. The stock is currently overbought with RSI above 70

FGEN – range trade between 19.50 and 17.66 per share

GERI – no bearish sentiment seen yet but atmosphere may change once it hits 1.20 per share.

GLO – bearish sentiment was felt last week as depicted by the last candlestick. If this will be confirmed, then price may retrace as low as 1915 per share unless a new support will be built above it

HOUSE – went down by 5.1% to close at 5.93 per share. No bullish signal found as of this time so don’t be in a hurry to get in or else you might be catching falling knives. You may monitor how the price will move once it hits 5.70 per share.

IDC – may continue to move up this week with Kijun Sen Line pulling the price up.

IMI – no bearish signal but the stock is overbought so watch out for selling pressure.

ION – sideways with bullish bias with Kumo protecting the price from going down. It is currently moving inside a rectangle formation with the a higher probability of breaking the resistance soon. Monitor the candlestick formation once it hits the resistance. A breakout from the pattern could bring the price to 2.50 per share.

IS – if price will respect its current trend, it will go up and hit the Kumo at 0.23 – 0.24 per share

ISM – went up by 9% last week and may continue to rise up this week

LIHC – sideways with bearish bias

LR – strong bullish signal registered last Friday with price piercing from the Kumo. This week’s challenge is to break the 4.80 per share resistance. Support is at 4.5 per share.

MAXS – may continue to rise following the 8.2% rally last week. Resistance is seen at 23.3 – 24 per share.

MEG – shows no bearish sentiment as of last week. Price may continue to move up.

MPI – poised to go back to its previous 6.0 per share support. Monitor the candlestick once its on that area.

MRC – closed at the high last week. Price could still go up while stock is not yet overbought. Resistances are at 0.43 and 0.45 per share

NOW – went up by 5.7% last week to close at 2.79 per share. There is a higher possibility that the price will continue to move up this week. A few bullish signal can be seen last week although the Kumo is quite strong as of now.

PGOLD – sideways with bullish bias

PHEN – after successive weeks of descent, bulls showed some muscles last week as depicted by the hammer candlestick at the end of the downward trend. Test buy at current price of wait until the Hammer will be confirmed.

PIZZA – sideways within the bounds of the Kumo or Cloud on daily chart.

RWM – sideways with bearish bias as of now unless a strong climb and close above 3.10 per share is made. But I would rather stay away with RWM for now. Let the dust settle first.

TUGS – still in a downward trend. There will be spikes every now and then but that will only to create another lower highs.

VITA – sideways with bullish bias. Ichimoku elements are showing green signals

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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