Philippine Stock Market – Update on selected stocks 9/2/2017

Philippine Stock Market

2GO – moving along the support line this week with Kijun Sen line protecting the price movement. A spike may occur this week. Test buy near support but be careful, next support is quite deep in case it will turn sour.

AC – broke the resistance at 900 and moving up by 2.3% to close at 920 per share. Price may continue to move up but expect a test from the newly found support.

AGF – went down by 5% while Kijun Sen keeps pulling the price. The threat is real but overall sentiment is still bullish.

ALCO – failed to break the resistance but may try again this week. Support is at 1.00 per share.

ALI – testing the newly found support. In case it will be breached, next support is at 40 per share.

ANI – threat from Kijun Sen line is still there but so far the stock is still bullish.

ARA – bulls are still in control after closing at the high last week. Expect a headwind once the price hits the Kumo.

BDO – sideways with bullish bias. Support at 125 per share maybe tested. Resistance is at 130.00 per share.

BEL – may continue to move up this week but watch where Chikou Span will move this week.

BHI – moving inside an upward channel. If price will continue to respect its current trend, we can expect BHI to create a higher high at 0.800 per share.

BLOOM – bulls showing weakness last Thursday creating a Shooting Star candlestick. If it will be confirmed, we will see BLOOM go down with support at 11.00 per share otherwise, it will continue to rise and test the resistance at 12.00 per share.

BRN – support at 61.8% Fibonacci Retracement level seemed to be a strong support. The price movement left with a Doji candlestick. Could this be the time for buyers to take control? Test buy at current level or wait for a confirmation this week.

CEB – resistance stopped CEB from moving upward but we don’t see any bearish signal yet

CLC – sideways with bearish bias. The bearish sentiment came after the price went below the Kijun Sen line.

CLI – sideways with bearish bias.

COSCOKumo is preventing the bulls from moving upward last week. Price may continue to drop and seek support at 7.73 per share. From there we will see if the bulls can regain control.

CPG – went down by 3.6% last week but Kijun Sen line is still active in pulling the price up. It is at 0.58 per share.

DAVIN – continues to be bearish but spike could be here soon for those who wants a fire exit.

DD – sideways with bearish bias.

DNA – Kijun Sen line at 5.84 per share may pull the price up but that is a strong resistance to break though.

EEI – sideways within the range of 12.80 and 14.00 per share.

EW – sideways with bearish bias

HVN – finally broke the Kumo or Cloud but sellers may put pressure on the stock next week. Support is at 16.96 per share.

JGS – range trade between 69 and 73 per share.

LC – sideways movement but with possible pull from Kijun Sen line that is moving along the 0.199 line.

LIHC – sideways within 0.90 per share and 1.00 per share.

LR – no significant candlestick formation so a possible sideways movement for LR this week.

LTG – consolidation mode inside the 17 and 18.50 range.

MAXS – may continue to move up this week towards 21.32 per share. This is its resistance while support is at 17.65 per share.

MPI – if the price movement is to be respected, we should expect MPI to bounce after it will hit the support slope especially if we will see a bullish candlestick this week. Don’t rush though.

MPI

MPI

MRC – bullish signals are still intact on weekly chart but watch out for the cross of Kijun Sen line and Tenkan Sen line.

MRP – sideways movement seen this week at 8.7 and 9.15 per share range.

MRSGI – may continue to move up this week and get inside the Kumo. Resistance is at 4.43 per share.

NOW – Kijun Sen line may continue to pull the price up.

PGOLD – consolidates at 47.25 – 48.82 per share while RSI is to be loosen.

PHEN – went down by 2.7% after coming closer its resistance at 1.89 per share. There could be another test to break the resistance this week.

PMPC – may continue to move up this week. No bearish signal seen yet.

PPC – Kijun Sen line at 6.25 per share may continue to pull the price down.

PXP – hit the 161.8% Fibonacci Retracement level and retraced. Although the sellers where not able to gain so much control, the gap at 4.19 – 4.14 per share is a threat. 4.0 per share could be a strong support during the retrace.

SECB – may continue to drop while Kijun Sen line is at its strongest position to pull the price down unless it will bend.

SMPH – sideways movement but Kijun Sen line at 31.55 per share is a threat.

SSI – went up by 13% last week to close above the resistance but a few sellers causes the stock to weaken a little bit last Thursday. If the Shooting Star will be confirmed, price will fall and seek support at 4.6 per share. Otherwise it will continue to move up and challenge the resistance at 5.00 per share.

VITA – hit the resistance at 2.21 per share. Although there is no bearish candlestick pattern created last week, just be careful.
Caveat!

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