Philippine Stock Market – Update on selected stocks 8/05/2016

Binary Options

AGI – Kijun Sen line provided a support last Thursday and AGI was able to bounce from it closing at 16 per share last Friday. Price may continue to go up with next resistance at 16.28 and 16.75 per share.

ALT – still within the trading range of 4.76 and 5.58 per share. With price inside the Kumo, expect price to move sideways within this range

ANI – price may continue to move down and hit support at 3.15 per share. This is where the Senkou Span line is which will act as support. Test buy when there is bullish candlestick setup near this area.

ARA – went up by 2.9% last Friday pushing away from the Kumo. Price may continue to move up as stock continue to be bullish.

BEL – after 3 consecutive red candlesticks we still don’t see any bullish pattern. Will Kijun Sen line pull the price at 2.89 per share?

BHI – registered a Doji candlestick after consecutive falls. Will BHI bounce this week? This type of setup suggests that while the bears are in control for the past few days, their bearish sentiment is dissipating, thus a bullish bias if about to emerge. But we need to see a confirmation via a long green candlestick following this setup. Either you test buy now or wait for the confirmation.

BRK – found support at the Senkou Span line but it may just move sideways this week.

BLOOM – weekly chart shows how the Kijun Sen line acts as support to this stock. Price may continue to move up this week with headwinds at 5.90 per share.

BRN – currently at the support slope. Sentiment is seen to be bullish at this time. Test buy at this level but quick to get out if support will be broken.

CEB – went up by 5.5% last week to close at 115 per share. RSI or Relative Strength Index is already high at 83. Although we haven’t seen any bearish candlestick formation as of this time, price has already reached its possible target at 161.8% Fibonacci Retracement level. Not good for a fresh entry.

CEBU PACIFIC

CEBU PACIFIC

CHP – went up by 2.5% to close at 12.3 per share and registered a bullish signal via Tenkan Sen Cross although the threat from KSL is still there, bullish bias is still intact.

CIC – sideways with bearish bias

COSCO – managed to close above the Kumo last week which is a bullish signal called Kumo Break. It may continue to move up this week with resistance at 8.6x per share and newly found support at 8.0 per share.

CPG – earlier last week the stock drop to as low as 0.60 per share but the bulls were able to bring the price up and close at 0.64 last Friday. It leaves with a bullish sentiment that may continue this week. Resistance is seen at 0.69 per share while support at 0.635 per share.

CROWN – Kumo or Cloud was able to prevent the price from moving up and as a result, price went down by 4.7% to close at 2.22 per share. It tested the support (2.20 per share) in the process and so far support it holds. It may move sideways for now with bullish bias.

DD – sideways with bullish bias. The threat from Kijun Sen line has already gone. Test buy at current level.

DMC – sideways with bullish bias as it moves inside the triangle.

DNL – went up by 6.1% to close at 10.54 per share last week. No sign of bearish signal as of this time meaning it will continue to go up. Resistance is at 10.83 per share while support at 9.97 per share.

EDC – sideways with bullish bias. All Ichimoku elements are still in a weak bullish setup.

EEI – bears are in control after it went down by 4.7% last week following the Shooting Star candlestick.

FGEN – the Kumo may act as support but bears are currently in control. In case the Kumo at 24.45 per share will not hold, next support is at 23.20 per share then 22.15 per share.

FGEN

FGEN

FLI – may continue to consolidate inside the Kumo.

FNI – last time it hit at this level it bounced. Now it is at this level again, will it bounce? Will triple bottom have an effect on the price? I would wait for a bullish signal before buying.

GERI – looks like GERI has hit the bottom at the Kumo and ready to bounce?

GERI

GERI

ION – it tried to break from the Kumo but was not successful. It might try again this week.

ISM – went down by 13.7% to close at 1.51 per share last week. No bullish candlestick pattern formed but with RSI or Relative Strength Index saying the stock is already oversold, traders may now start to buy. It would be good if we can buy near the next support at 1.43 per share with bullish setup forming there or anywhere at this level as long as bullish pattern will emerge. Just don’t rush.

LPZ – continue to move within the range set last time.

MAXS – went up by 9.8% to close at 31.30 per share breaking the 30.60 per share resistance after weeks of consolidation. Price may continue to move up with next resistance at 35.41 per share. But that won’t go up straight. There will be headwinds along the way and the newly found support may be tested.

MCP – bearish candlestick was formed last Friday but we still need a confirmation via a long red candlestick. Without the confirmation, price will go up and hit next resistance at 4.25 per share.

MEG – the stock refuses to go down as it went up by 3.2% last week. Upward trend continues to be intact.

MRSGI – no bearish signal formed yet but the stock is already trading at overbought level. Selling pressure may be felt this week.

PPC – may continue to move downwards following the 5.1% drop last week.

PXP – sideways with bullish bias. Resistance at 3.90 per share while support at 3.69 per share

ROCK – currently at resistance level but no bearish candlestick formation so far. This means the bulls are still in control and may continue to push the price up. Next resistance is at 1.85 per share.

RWM – sideways with bullish bias

SBS – sideways with bearish bias. There is a threat from Kijun Sen line at 6 per share and flat Kumo at 5.87 per share.

SLI – sideways with bullish bias.

T – currently at support slope. Notice that T is moving inside an upward channel in which we have the first higher low at 1.6 per share. We might have a new higher low at current level. Test buy.

VITA – its almost touching the target of 1.70 per share. In case you will see a bearish candlestick pattern at that level, then there is a greater chance it will retrace. Otherwise it will continue to move up and convert the resistance to a new support. Not for a faint of heart.

VLL – sideways with bearish bias but if price will be able to close above the Kumo (6.06 per share) then it will be a different story.

X – may consolidate inside the Kumo or Cloud.

 

Caveat!

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