Philippine Stock Market – Update on selected stocks 9/30/2016

stock trading

AC – sideways with bearish bias because of the Kijun Sen line that might pull the price down. Support is at 850 per share while resistance at 874

ALI – may continue to go up and challenge the 40 per share psychological resistance. Support is at 38.62 per share

ANI – went up by 10.2% last week to close at 3.66 per share. Price may continue to move up but there is also a chance it will move sideways while inside the Kumo. Nonetheless, bulls are gaining control.

ARA – didn’t confirm the Doji last week although sentiment doesn’t change that much as Kijun Sen tried to support the price at the end of the week. It is important that we will see a green candlestick this week with closing price above 2.74 per share. You may test buy at current level.

BDO – may continue to move up after it register a weak bullish signal via Kijun Sen Cross last Friday. Support is at 109.15 per share

BEL – currently at resistance slope. Will it create a lower high for the downward channel or a break will happen? Test buy at current level or wait for a breakout.

BHI – threat from Kijun Sen line at 0.0865 per share is still there.

BLOOM – went down by 14.8% and not respecting the current trend as it breaks from the support slope. It also broke the Kumo which is an additional bearish signal. If price can’t go back inside the Kumo then it may continue to drop and find support at 4.0 per share. If bullish candlestick formation may appear, it could also be a bouncing area but as of now bearish sentiment is strong.

CEB – went down by 5% last week to close at 113 per share. Kijun Sen line continues to attract the price which may fall further to 105.5 per share unless we see a bullish candlestick formation. As of now we don’t see any.

COSCO – sideways with bullish bias

CPG – may continue to move sideways with the possibility of a spike towards 0.63 per share.

CROWN – sideways with bearish bias. Trading range is 2.05 – 2.12 per share.

CYBR – currently at the mercy of the 61.8% Fibonacci Retracement level which acts as support. In case it will bounce, resistance is at 0.64 per share. But be careful because bears are creeping in.

CYBR

DAVIN – while Chikou Span maintains its bullish position, Kijun Sen line is still a threat for DAVIN that may pull the price down to 5.5 per share. It is important for Chikou Span not to move below the price.

DD – still in consolidation mode. No bullish or bearish signal.

DNL – is showing bearish sentiment after it hit the resistance two weeks ago and followed by another red candlestick. Price may find support at 10.83 and 10.47 per share.

FGEN – still in consolidation mode

FLI – may continue to move down and find support at 1.80 per share

FNI – currently with bullish sentiment. Price may continue to move up and challenge the resistance set last April

FOOD – could still drop towards 0.885 where flat Kumo is waiting.

IDC – sideways with bearish bias as of now

ISM – consolidation mode while inside the Kumo

LR – went up by 25.2% last week to close at 5.51 per share. Price is not at Kijun Sen line that pull the price up. Kijun Sen line will not act as resistance. If we will see a bearish candlestick formation this week, price will likely to correct. Otherwise it will continue to move up and set a new bullish signal.

LTG – went down by 6.5% and show bearish sentiment after it broke the Kijun Sen line. Price may continue to go down with support at 5.13 per share and 14.11 per share

MAXSDoji candlestick the previous week was not confirmed. Bearish sentiment continues to be felt as of this time.

MBT – may continue to move sideways. No bullish or bearish signal seen.

MEG – sideways with bullish bias. Trading range is 4.55 – 4.92 per share

MEGAWORLD

MRSGI – sideways with bearish bias. Kijun Sen line at 4.85 per share is still a threat

PGOLD – registered a bearish signal via Kijun Sen Cross but it sits at 38.2% Fibonacci Retracement level. Withouth bullish candlestick signal seen at the moment, this stock may continue to move down.

PXP – continues to move up. Last week it registered an 11.5% gain to close at 3.30 per share. Immediate resistance is at 3.85 per share. If this will be broken, next resistance is at 3.95 per share. No bearish signal seen yet so most likely it will continue to rise.

SBS – sideways movement with lower range at 5.8 and upper range at 6.45 per share.

SLI – after reaching the PRZ few weeks ago, SLI continue to retrace and currently at the support level. But without bullish sentiment seen through candlestick setup, this stock may continue to go down further. Test buy if bullish candlestick will appear, otherwise, stay away.

SLI

SMC – sideways with bearish bias. Kijun Sen line at 75.55 per share may pull the price down.

SSI – sideways with bullish bias. Kijun Sen line may help pull the price up.

Caveat!

The following two tabs change content below.

felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

Leave a Reply

}