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

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AC – showed bullish signal last Friday after it pierced through the Kumo and Kijun Sen line. This movement denotes that bears are currently in control. New support will be the Kumo and the KSL while resistances at 880 and 900 per share.

ACR – sideways with bullish bias. It is currently at support level.

ALCO – sideway movement within 1.11 – 1.22 per share.

ALI – sideways with bullish bias. Immediate support is at 9.27 while resistance is at 40.97 per share

ANI – maintains its movement above the psychological support 8.0 per share. It may move within the 8.5 – 9.0 per share range this week.

ARA – tested the support at 2.50 per share. ARA still maintains the possibility of a bounce from this area to fulfill the cup and handle formation.

BDO – sideways movement within the 125 and 120 per share range.

BEL – continued to go up last week after bouncing from the Kijun Sen line the previous week. Price may continue to move up this week.

BHI – moving inside an upward channel with price currently at support slope. There is a possibility that price will bounce this week if movement will respect its current trend

BLOOM – sideways with bullish bias. It is likely to move up based on daily movement where price stayed above the Kijun Sen line.

BPI – may continue to decline while no bullish signal is seen. Bears are currently in control.

BRN – weekly chart suggests the bulls are currently in control. Price was supported by the Kijun Sen line at 1.30 per share and has bounce from it this week. Price is likely to continue going up this week with immediate resistance at 1.43 per share.

CEB – sideways with bullish bias

CLI – range trade within 5.3 and 5.5 per share. There is no significant candlestick formation yet.

COSCO – went up by 3.8% to close at 8.20 per share. The Kijun Sen line on daily chart helped pull the price up. Now its the turn of KSL at weekly chart to pull the price even more. It is at 8.64 per share.

CPG – strong close above the Kumo or Cloud. This price movement is considered bullish. CPG was up by 18.2% last week and may continue to move up. A test at the newly found support may happen this week. Buy at support level.

CROWN – sideways with bullish bias

CYBR – closed at the high and up by 7.8% as it closes at 0.55 per share. Price is likely to move up and hit 0.587 per share.

DD – sideways with bearish bias. The Kijun Sen line at 48.55 may pull the price up but it could just be used as a fire exit.

DNL – bears are still in control. It may move sideways but with bearish bias.

EDC – no significant bullish or bearish signal. Price may continue to move sideways within 6 and 6.20 per share.

EEI – sideways with bearish bias

EMP – continued to go up last week and broke the Kimo or Cloud. This is a bullish signal called Kumo Break. Price may continue to move up but not without testing the newly found support as RSI or Relative Strength Index is already at overbought level.

EW – found a bearish engulfing pattern last Friday after it dropped by 4.3%. It closed at 32 per share. If the bearish candlestick pattern will be confirmed, price will continue to dip with immediate support at 30.00 per share.

FGEN – may continue to go down while looking for a strong support. Buy when there is a bullish signal. No need to rush. It may be tempting because the stock is already oversold.

FLI – based on its current movement, price may continue to rise and test 1.78 per share. If a strong break from resistance slope will happen, next target will be 1.90 per share.

FNI – Kumo break found last week which is a bullish signal. Price may continue to rise this week. Kijun Sen at 2.77 may also help pull the price up.

GERI – went up by 26.4% last week to close at 1.58 per share. No bearish signal found yet and it close strong at the high. With its RSI or Relative Strength Index at oversold level, can it still reach 1.90 per share? It could, but not without a correction.

ICT – sideways with bullish bias

ION – may continue to trade the range 1.48 – 2.00 per share.

IRC – may continue to rise and break the Kumo this week. If not, then it is bound to retrace with support at 1.10 and 1.05 per share

IS – sideways with bullish bias

JFC – support at 202 per share was strong for JFC. It went up by 2% and may continue to move up with next resistance at 210.45 per share.

LC – kijun sen line at 0.20 per share may continue to pull the price up.

LR – if price will respect its current trend, then we will see LR’s price to fall towards the support slope. LR has been moving inside an upward channel.

LR

LR

LTG – went up by 5.4% to close at 15.5 per share. It is most likely that price will continue to move up this week. Immediate resistance at 15.72 and then 17 per share.

MAXS – range trade between 21.32 and 17.65 per share

MEG – sideways with bullish bias

MER – bounce from 260 per share support level and may continue to move up towards 275.70 per share. This is due to the pulling effect of Kijun Sen line at that level.

MPI – Kumo Break last week which means bulls are in control. Next resistance is at 7.00 per share.

MRC – continues to consolidate within the Symmetrical Triangle.

MRSGI – may continue to move up with resistance at 5.20 and 5.60 per share while support at 5.00 per share.

NOW – sideways with bearish bias

PCOR – failed to break from the Kumo and Kijun Sen line. This may lead to a decline in price.

PGOLD – sideways with bullish bias

RWM – shows bullish sentiment after it broke from the Kumo or Cloud. Price may continue to move up and challenge the 4.0 psychological resistance this week.

SSI – may continue to rise and peak at 4.80 per share before correction will occur. RSI or Relative Strength Index is already at 86.4

X – sideways with bearish bias.
Caveat!

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