Philippine Stock Market – Update on selected stocks 7/21/2017

Philippine stock market

2GO – sideways with bullish bias. If Kumo on daily chart will be broken, it will hit 28 per share.

ABS – may continue to move up and eventually hit strong resistance near 47 per share. Other resistances are 43.3 and 45 per share.

AC – sideways within the current trading range of 850 and 900 per share.

AGI – currently at support level with a greater change of move up towards its upper range 14.8 per share

ALCO – bears continue to control the stock but a good stock to monitor for possible spike. Resistance is at 1.22 per share while 0.97 per share is the next support if it continues to decline

ALI – went up by 2.3% to close at 42.15 per share which is the current resistance. It is likely that ALI will continue to move up following the strong close at high last week. Time to break this major resistance?

ANI – is trying to loosen RSI by moving sideways. Range trade at 8.50 – 9.00 can still be seen with bias on the green side.

ARA – kijun sen line failed to support the price and ARA continue to dip. But we might see a spike this week which could be used as a fire exit. Resistance at 2.41 per share while support at current price and at 2.29 per share.

BEL – has been in decline for a quite sometime now. Sideways movement can be seen this week within the 3.70 and 3.80 range but with bullish bias.

BHI – broke the support slope last week and fell 8% to close at 0.081 per share. Kijun Sen line was instrumental in supporting the price not to go down any further. Test buy at current level or wait for the green signal.

BLOOM – still on sideways movement while no significant bearish and bullish candlestick signal is seen. Trading range is 9 – 10 per share. General sentiment is still bullish.

BPI – strong close for BPI and may continue to move up this week.

CPG – has been in decline for the last 3 days last week prompting Kijun Sen line to protect from further decline. CPG now at 0.60 per share may bounce this week. Test buy near 0.59 or wait for the green signal.

DAVN – no significant signal. Price may continue to move sideways.

DNL – sideways within 12 and 12.8 per share

EAGLE – disruption from its current climb created by the Kumo but it seems EAGLE is bound to break the resistance this week. This could be accomplished by the help of the Kijun Sen line at 15.97 per share.

EDC – may continue to move up and hit its PRZ at 6.10 per share.

EEI – the stock broke from the PRZ at 127.2% Fibonacci Retracement level and visited the 161.8% level. Although it failed to break, this shows EEI is in bullish mode right now. It may soon break that resistance but first it has to loosen up RSI a bit. Relative Strength Index is now at 85

FGEN – while sellers have weaken, bullish haven’t took control yet. This could lead price to decline further at 17.66 per share unless we see a green signal.

FLI – visits and tested its newly found support created when it broke from resistance slope 2 weeks ago. This is an interesting level. Test buy when you see a green signal.

GERIBearish Engulfing pattern seen last week which means bears are starting to control over the stock. Support is at 1.43 per share. A break from this level will bring the price to 1.20 per share.

H2ODark Cloud Cover seen last week. Price may decline further but the gap created last Friday is an interesting space for a quick play.

ION – testing newly found support and has so far successful in providing support. Price could climb and test 2.32 per share this week.

ION

ION

ISM – went down by 8.6% after hitting the Kumo which acted as resistance. Bears are currently in control.

JFC – may continue to go up and break the Kumo. Next resistance is around 230 per share

LR – failed to sustain its strong push upward early last week but most likely the bulls will try to push the price up again this week

LTG – after its strong ascend two weeks ago, last week’s movement is a healthy one. An opportunity to add more shares. Support is at 17 per share.

MARC – failed to stay above the Kumo but I think the bulls are not yet done. Another test could happen this week. Is 2.50 per share be here soon?

MAXS – sideways with bullish bias

MBT – went down by 5.5% to close at 86.90 per share. It could go down further and find support at 85.12 per share

MEG – sideways within 4.6 and 4.8 per share range.

MRC – trade range within the bounds set by the Kumo on daily chart.

MRSGI – tested the support level that’s used to be the resistance that MRSGI broke. Test buy at current level or wait for a bullish signal

PNX – no bearish signal found last week. This means PNX is likely to continue moving up this week.

RWM – sideways with bullish bias

SBS – sideways with bullish bias

SSI – sideways with bearish bias. Current trading range is 4.4 – 5.0 per share.

STI – sideways with bearish bias. Kijun Sen line at 1.35 per share may pull the price down.

WPI – Kijun Sen line at 1.15 per share may pull the price down
Caveat!

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