Philippine Stock Market – Update on selected stocks 8/11/2017

philippine stock market

2GO – a spike may occur but the stock is bearish in short term as of this time.

AC – sideways with bearish bias.

AGI – bearish signal seen last week after it dropped by 4.8% to close at 13.52 per share piercing the Kumo. This is a bearish signal called Kumo Break. The immediate resistance is the price where the price broke the support.

ALCO – no green light seen yet. Price may continue to dip and seek support at 0.80 per share. Resistance is at 1.00 per share.

ALI – sideways movement after breaking the resistance. This will loosen the RSI more before it will continue to ascend.

ANI – sideways with bearish bias. Trading range is seen at 8.50 – 9.50 per share.

BEL – sideways with bearish bias. Support is at 3.55 and 3.34 per share while resistance is at 3.75 per share.

BHI – down by 4% last week to close at 0.072 per share. There is a chance it will spike as it nears the support 0.007 per share but may only be a short-lived one.

BLOOM – sideways with bearish bias. It is currently support by the Kijun Sen line. If it breaks, next support is at 8 per share. Resistance is at 10.00 per share.

BRN – down by 9.7% last week to close at 1.31 per share. Currently supported by the Kijun Sen line. This is an interesting area since historically there were a few actions in this area. Test buy near support level.

CLI – may continue to go up this week.

CNPF – a possible spike after last Friday’s action but overall sentiment is bearish so you have to be careful

COSCO – another drop last week, putting COSCO near its 161.8% Fibonacci Retracement level. With RSI or Relative Strength Index at 24, this stock is already oversold. We just have to wait for the green signal. Could be at 7.25 per share. Let’s monitor that level.

COSCO

COSCO

CROWN – sideways with bearish bias.

DD – sideways with bearish bias. Another bearish signal seen when the price pierced through the Kumo this week.

DNL – down by 16% last week closing below the Kumo. There will be a buyer reaction but it might only be a fire exit. Be careful.

EEI – time to correct after successive runs. Price went south last week. It broke the 12.80 per share support and is heading towards 11.93 and 11.31 per share. Let’s see how it moves once it hits 11.93 per share. This is where the Kijun Sen line of daily chart rests.

EMP – Kijun Sen line was able to pull the price down towards it. EMP is now at 7.09 per share and bulls are nowhere to be found yet.

EW – have been in ascend for a few weeks until recently it slowed down. Kijun Sen line at 26.82 per share is trying to pull the price down. The stock is still overbought.

FGEN – back to its support after the rally 2 weeks ago. Bears are currently in control.

FLI – another stock that visits back to its support. Test buy when you see a green signal, otherwise don’t do it.

GERI – looks like it will create a downward channel. Kijun Sen line at 1.43 per share is a threat.

HVN – sideways within the bounds of the Kumo or Cloud.

ICT – sideways with bearish bias.

IMI – support is at 11.46 per share if it continues to dip which is likely since we don’t see any green signal as of this time.

ION – down by 8.5% last week and is currently at the mercy of its support. Bearish sentiment is quite strong as of this time.

IS – interesting price movement last Friday. Test buy at current level.

JGS – down by 6.1% last week. It has been a downward direction for JGS for quite sometime now. At the moment, the 127.2% Fibonacci Retracement level is considered the support. Let us see how the price will react on that level. RSI or Relative Strength Index says the stock is already oversold.

LIHC – bears are still in control. Support is at 0.90 per share.

LR – sideways movement within the 4.00 – 4.20 per share range.

LTG – sideways movement within 16.96 and 18.50 per share range.

MAXS – it continues to move within its range but last weeks price movement shows more bearish sentiment. Support is at 17.65 per share.

MBT – may move sideways within the 85.12 – 90.15 per share range.

MEG – sideways with bullish bias

MPI – weak bearish signals seen via Tenkan Sen / Kijun Sen Cross and KSL Cross as well. Looks like a lot of weak bearish signals?

MRC – Bullish Piercing Line on its daily chart. Test buy near closing or even near 0.28 per share. But this might be a quick play so be careful.

PGOLD – sideways with bearish bias. The Kijun Sen line at 44.52 per share may pull the price down.

PHEN – visited the 161.8% Fibonacci Retracement level. Weekly chart doesn’t have a bullish signal yet. If it does, test buy.

PLC – sideways with bearish bias as Kijun Sen line may pull the price down.

PNX – looks like it is going to create an upward channel but since it just visited the higher high, expect a retrace down to 10.50 level. Price should respect its trend to achieve that.

SECB – went up by 3.3% last Friday leaving a gap at 245.3 – 248.5 Will this be filled on Monday?

WLCON – down by 7.3% last week and may continue to dip this week. Kijun Sen line at 7.11 per share could pull the price down.

X – sideways with bearish bias. Next support is at 4.76 per share.
Caveat!

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