Philippine Stock Market – Update on selected stocks 9/29/2017

Philippine Stock Market

2GO – sideways movement. The 19.13 – 21.90 range is still intact.

AGI – bullish sentiment is still intact and a retrace should be a welcome development.

ALCO – sideways with bullish bias. It is currently moving inside the Kumo and there is a Kijun Sen line at 1.24 per share that could pull the price outside the Kumo.

ALI – after reaching the PRZ two weeks ago, price went down by 3.7% to close at 43.50 per share. This may continue to retrace and seek support at 42.15 per share.

AYALA LAND INC

AYALA LAND INC

ANI – after consolidating, it looks like ANI is heading towards 10.70 per share but lets see what will happen if it hits 10.00 per share which is it immediate resistance.

AP – may continue to move up this week but the resistance provided by the Kumo may not be easy to break. Strong headwinds may be felt once it hits the Kumo.

APL – showing bullish signal via Kumo Break after the long consolidation. Test buy near the newly found support created last Friday.

ATN – no bearish signal seen yet which means price may continue to move up this week. Possible to touch 0.40 per share considering the current trend.

BEL – bears continue to gain control. Notice that the Chikou Span crosses the price path from above. This shows that bulls are starting to get weak while the bears starting to get strong.

BHI – may spike this week following last week’s indecisive sentiment between the bears and the bulls.

BKR – sideways with bearish bias unless the bear signal is not confirmed.

BLOOM – ichimoku elements are still set in a bullish position but we might see some weak bearish signals soon.

BPI – is currently sitting on its support which could be used as a bouncing board. Test buy at current level or wait for the confirmation.

BRN – broke the support at 61.8% Fibonacci Retracement level and the Kumo. Next support is at 78.6% Fibonacci Retracement level. Better to wait for a bullish candlestick signal before entering. This is a good stock to monitor this week. RSI or Relative Strength Index is 35.11

CEB – looks like it is done testing the newly found support. Onwards to 120 – 125 per share?

CLC – close at the high last Friday. Bulls are currently in control. Price may continue to rise this week.

CLI – bears still controlled the stock and no bullish signal found yet.

COSCO – sideways with bearish bias. Last week’s candlestick signifies the equilibrium between the bears and the bulls. But since the price has been moving upward, the last candlestick suggests weakening of the bulls.

CPMDoji candlestick at week’s closing. Notice that the price is moving upwards before we see a Doji candlestick. This means bears start to show force. RSI or Relative Strength Index is 89.97 The stock is already overbought.

DAVIN – failed to break the Kumo last week but so far no bearish signal seen last week which means it has a higher possibility that another test to break the resistance will occur this week.

DD – sideways with bearish bias.

DFNN – may continue to move upward this week to challenge the resistance at 8.43 per share. Next resistance is 9.00 per share.

DNL – still in consolidation mode within 10 and 11 price range.

EEI – price may continue to decline and seek support at 13.00 per share.

EW – sideways with bullish bias.

FLI – up by 4.1% to close at 2.03 per share. Price may continue to rise this week but monitor how price will react at 2.04 per share because this is its immediate resistance.

FNI – bullish signal via Tenkan Sen / Kijun Sen Cross. Resistance is at 3.00 per share.

HVN – sideways with bearish bias. Resistance at 16.96 per share.

IDC – price may consolidate within 4.25 and 4.76 per share with inclination towards bullish territory.

IMI – after reaching its PRZ, price moved sideways. This may continue doing sideways movement this week. Price range is quite wide with 18.10 per share as its lowest range and 19.84 per share as its highest range.

ION – sideways with bearish bias.

JGS – Kijun Sen line keeps pulling the price down. Price may continue to drop towards 74.22 per share.

LPZ – 10% drop last week. You might be tempted to buy at current level but I think it is better to wait for a bullish signal. You might be catching falling knives. Be careful with spikes, other might just want to use it as fire exit.

LR – sitting at the support slope. Test buy near support or wait for bullish candlestick at the close of this week.

LRW – we saw from the previous week that the bulls confidence is not there. Price drop by 9.6% last week. Will it bounce this week? The gap last August was closed.

LTG – sideways movement with possible pull from the Kijun Sen line.

MAC – sideways with bearish bias unless the Kijun Sen line at 13.35 per share will bend.

MAXS – range trade between 17.65 and 21.32 per share.

MEG – may continue to consolidate this week to loosen up the RSI

MPI – continues to respect the current trend.

MPI

MPI

MRC – looks like MRC is not going to respect the current trend. Test buy at current price or wait for it to break the resistance slope.

MRP – another bullish setup that needs confirmation. If confirmed, price will go up and challenge the resistance at 8.35 per share. The stock is already oversold.

NOW – sideways with bearish bias.

PGOLD – selling pressure was felt last week but the bulls were able to bring the price up after it drop as low as 49.00 per share. Support at 51.00 is still intact.

PXPichimoku elements are still in bullish position and 7.5 per share was so strong enough to support the price. Volatile movement may still be observed this week.

WPI – may continue to move sideways within 1.20 – 1.40 per share range.
Caveat!

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