Philippine Stock Market – Update on selected stocks 9/22/2017

Philippine stock market

2GO – sideways with bullish bias.

AC – no bearish signal has been formed yet although RSI or Relative Strength Index is already suggesting the stock is oversold.

AGI – toppish at current level. Still maintaining its bullishness but the headwind might be strong this week. Resistance is at 17 per share.

ALI – reached the 127.2% Fibonacci Retracement level which is our PRZ or Potential Reversal Zone. Last week’s candlestick shows weakening of the bulls. Support is at 45.00 and 44.00 per share.

ANI – still in consolidation mode.

AP – may continue to rise following the weak bullish signal presented last week.

APL – consolidation mode.

ARA – sideways with bearish bias. The flat Kumo may pull the price down. Support is at 2.42 per share.

BEL – bearish sentiment is getting stronger. If Chikou Span will move below the price movement then another red signal for BEL. Price may spike but resistance at 3.95 per share may stop the price from going further up.

BHI – bears continue to control the stock. Price may move sideways this week with bearish bias.

BKR – no bearish signal but RSI or Relative Strength Index is already above normal level. Expect some selling pressure from the bears.

BLOOM – the stock is bullish but correction is inevitable. Support is at 10.32 and 9.57 per share.

CEB – made it above resistance line which is now our newly found support. Expect a test from that line this week. Next resistance is 115 per share.

CLC – sideways with bearish bias.

CLI – Kijun Sen line was instrumental in blocking the price last week but it seems the bulls are not yet over. Another test this week.

COSCO – up by 5.2% last week to close at 8.48 per share, inside the Kumo. Last Friday we saw some selling pressure which may continue early this week. Support is at 8.30 per share.

CROWN – still in consolidation mode.

DAVIN – weak bullish signals continue to show on DAVIN. Resistance is at 6.36 per share but could be easily broken.

DD – bulls starts to show up last week. Price may continue to move up this week. Immediate resistance at 47.70 per share

DNL – no significant bullish or bearish signal. Price may continue to move sideways.

EEI – sideways with bearish bias.

EW – may continue to consolidate this week within the 32 and 30 price range.

FGEN – currently blocked by 19.00 per share resistance. Support can be found at 18.00 per share.

FLI – visited the PRZ at 127.2% Fibonacci Retracement level or around 2.23 per share. This is a strong resistance for FLI as of this time.

FILINVEST

FILINVEST

GERI – Kijun Sen line at 1.43 per share may pull the price down unless it is bent.

HLCM – price may continue to move up with headwinds. Kijun Sen line at 14.32 per share will help push the price up.

HOUSE – may create a spike this week. Immediate resistance is at 5.32 per share.

HVN – dropped 19.8% last week. It is heading towards its support at 15.72 per share.

IDC – while inside the Kumo or Cloud, price is expected to consolidate within the bounds of the Kumo.

IMI – reached the potential reversal zone at 161.8% Fibonacci Retracement level. Although we don’t have a bearish signal yet but expect some headwinds as the price is already at overbought level.

JGS – some headwinds last week brought by the Kijun Sen line but no significant bearish signal thus we are looking for another try from the bulls to break the resistance this week.

LPZ – a triangle formation is in progress. A spike may happen this week but it is just to create another lower high in respect to the triangle formation.

LR – indicators are still in bullish position. Price may continue to move up after this headwind.

LRW – last Friday was a testing of newly found support. So far it holds but confidence is still not that strong. Notice that on weekly chart, price was not able to break the Kumo.

LTG – sideways with bearish bias.

MEG – toppish at current level. Need to retrace or consolidate to loosen the RSI. Bullish sentiment is still intact.

MPI – continues to respect the upward channel it is current in.

MPI

MPI

MRC – resistance slope blocked the price from move upward. The price drop by 6.8% and close at 0.345 per share. If the price will continue to respect its current trend, we will see MRC below 0.25 per share but if not, we might see it at 0.50 per share.

MRC

MRC

MRSGI – sideways with bullish bias.

PGOLD – selling pressure might be felt this week after PGOLD breached the 161.8% Fibonacci Retracement level. That level is our current support.

PIZZA – strong bullish signal found last week after it broke the Kumo and Kijun Sen line. Support is at 13.25 per share while resistance is somewhere around 14.20 – 14.40 per share.
Caveat!

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