Philippine Stock Market – Update on selected stocks 7/28/2017

Philippine Stock Market

2GO – sideways movement is seen this week with bullish bias. The bias comes from the daily chart after it broke the downward channel.

AGI – tried to break the Kumo for the last 2 days last week but failed. Looks like it si bound to do another try early this week. Monitor and test buy when it breaks the Kumo.

ALCO – may continue to move up but the 1.125 resistance might be just strong this time. Spike at this time may be used as fire exit.

ALI – broke the resistance area and is currently trading above it. Expect a test of newly support soon while traders take profit. Potential Reversal Zone is pegged at 45.44 per share.

AYALA LAND INC

AYALA LAND INC

ANI – the threat coming from the Kijun Sen line is still there although we see a sideways movement for this week that will range between 8.70 and 9.20 per share

BDO – looks like it is poised to break the resistance it has been trying to break for few times now.

BEL – sideways within the 3.75 – 4.00 per share but with bearish bias after we saw a Kijun Sen Cross the previous week.

BHI – went down and found support at the Kumo. Test buy when you see a bullish candlestick pattern as it is a signal for a bounce. Otherwise, don’t get in yet. Next resistance is at 0.070 per share.

BLOOM – stock may continue to move down with Kijun Sen line at 8.74 per share helping the price go down.

BRN – sideways with bearish bias

CEB – trying to find a way to break the current resistance provided by the Kijun Sen line and Kumo. Chikou Span already showed bullish signal so a change of trend could be near. Monitor price movement at the resistance and test buy if you see a strong breakout.

COSCO – hitting its resistance area at 7.7x per share. Test buy when you see a bullish candlestick formation.

CPG – currently supported at 0.054 per share but no bullish bias seen yet

CROWN – continues with the battle with the Kumo. Bearish sentiment is still strong at this time.

DAVIN – sideways with bearish bias.

DD – bearish sentiment keeps getting stronger. A spike could happen after last Friday’s price movement but it may not be enough for a reversal

EEI – went up by 3.6% to close at 13.08 per share, above 161.8% Fibonacci Retracement level. RSI or Relative Strength Index is already at 86.7 The newly found support at 12.80 per share may be tested this week.

EMP – Kijun Sen line pulls the price down and may continue to do so unless the flat Kumo will be able to support the price.

EW – sideways within the 32.00 – 34.00 price range. Definitely bullish based on Ichimoku system.

FGEN – declined by 4.8% to close at 17.62 per share hitting the support level. This was the support early last 2016. Monitor this stock for possible bounce. Just don’t get in if there is no bullish signal. RSI or Relative Strength Index is at 19.38

GERI – bears are currently in control with price at support level. Monitor the price movement and test buy when you see a green signal.

IDC – sideways movement seen for this week with some spikes but could be short-lived.

IMI – went down by 10.3% last week and may continue to do so while no bullish signal is seen.

ION – down by 6.1% to close at 1.86 per share. It is currently sitting on the support provided by the Kumo and Kijun Sen line. Interesting area to monitor.

JFC – test buy when it breaks the Kumo on weekly chart.

JGS – bounced from the 61.8% Fibonacci Retracement level. Looks like a good week for JGS holders this week.

LIHC – a spike may happen this week but only for a short period of time. Could be used as a fire exit.

LPZ – may continue to drop and find support at Senkou Spa B near 6.70 per share.

LR – having trouble getting inside the Kumo. May retrace towards 4.46 per share before getting strength to retest the resistance.

LTG – sideways with bullish bias. Trading range is at 17.60 – 18.50 per share.

MAXS – sideways with bullish bias. Kijun Sen line may be able to pull the price up. KSL at 23.38 per share.

MBT – support at 85.12 could help price not to go down further. In case it will be broken, next support is at 83.25 per share.

MEG – based on previous price movement, resistance is at 5.20 per share which means the is still room for MEG to move upward.

MER – posted a weak bullish signal via Kijun Sen Cross but it is near the resistance posted by the Kumo which makes the weak bullish signal weaker.

MRC – tends to continue dropping this week towards 0.318 per share while no bullish signal is seen.

MRSGI – tested the support last week and has so far been strong. Test buy at current level or wait for bullish candlestick signal this week.

NOW – daily chart shows possible bounce from current level but weekly chart suggests bearish sentiment. This means that we may have a spike but a short-lived one.

PGOLD – bullish sentiment is still intact. Price may continue to move up this week.

PHEN – sideways with bearish bias. Trading range seen at 1.89 – 2.02 per share.

RWM – sideways with bullish bias.

VITA – sideways with bullish bias.

WPI – sideways within 1.15 – 1.24 per share range.

Caveat!

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