Philippine Stock Market – Update on selected stocks 9/8/2017

philippine stock market

2GO – went up by 9.4% to close at 20.90 per share A good bounce from the 50% Fibonacci Retracement level. Kijun Sen line on daily chart was able to pull the price up but is not acting as resistance. Keep holding until you see bearish candlestick formation near KSL.

AC – sellers are currently in control as depicted by the bearish candlestick formation but I think the support at 900 per share will be a strong one in case price will drop.

AGI – sends a bullish signal last Friday after it broke the Kumo or Cloude. This bullish signal is called Kumo Break. Sellers may take advantage of the price movement last Friday and take profit this week. This is also to test the newly found support at 14.57 per share. In case it will hold, price will continue to rise and test the resistance at 15.00 and 15.50 per share.

ALCO – losed steam and wasn’t able to break the Kumo but bulls are still there and my try another attempt this week.

ALI – may consolidate further but bullish sentiment is still intact.

ANI – may continue to move down and find support at 8.50 per share. Threat coming from the Kijun Sen line is still there.

ARA – headwind occured last week but bulls aren’t done yet. Supported by the Kijun Sen line, price may resume going up unless KSL will be broken.

AT – went up by 8.4% last to close at 5.57 per share. Price may continue to go up with resistance at 5.70 per share and support at 5.48 per share.

BDO – in consolidation mode with a threat from Kijun Sen line at 124.05 per share.

BEL – it went up by 3.8% last week and momentum is still there as it approaches Kijun Sen line at 3.95 per share which is its resistance. The stock continues to be bullish as Chikou Span directs it. Support is at 3.75 per share.

BHI – sideways with bearish bias although Kijun Sen line could pull the price up, but the Kumo is quite strong as a resistance. KSL is at 0.081 per share while support at 0.070 per share. Be careful when entering.

BLOOM – starts to be shaken as it nears the 12.00 per share resistance. We don’t see any bearish candlestick pattern yet but price may consolidate this week.

BRN – failed to stay atop. It went up as high as 1.31 per share trying to break the resistance at 50% Fibonacci Retracement level but failed. No bullish nor bearish pattern so the sentiment is neutral last week.

CEB – still trying to break the resistance at 109.70 per share. Another test may occur this week. Buyers are not yet done.

CLI – bearish bias may continue this week

COSCO – went up as high as 8.33 per share but resistance wasn’t broken at the close. Bears starts to take control. Support is at 8.00 per share.

CPG – down by 3.8% last week. Although Kijun Sen line is still moving horizontally, Chikou Span is about to go below the price movement. If this happens, CPG will have more bears than bulls as it already have.

CROWN – sideways with bearish bias. A scenario that could change the sentiment is when we see a bullish candlestick pattern this week. This may lead to Kijun Sen line easily pulling the price up. Otherwise, it will drop and seek support at 1.85 per share.

DAVIN – a spike may happen but not be for long. Price at 5.70 per share is achievable with the help of Kijun Sen line. Overall sentiment is still bearish so be careful.

DD – while sellers become less dense, we still don’t see any bullish signal. I would rather wait for it.

DFNN – after successive drop, looks like the sellers are tired already. Is it time to bounce back?

DNA – KSL pulled the price up but bulls wasn’t able to maintain its rally. Bearish sentiment is looming.

DNL – course hasn’t change. Sideways movement is still being seen.

EEI – broke the 14.00 per share resistance and is going to test the 15.00 per share resistance. Stronger resistance is around 15-16.00 per share while support is at 14.50 per share.

EW – range trade within 30.00 – 32.00 per share

FGEN – currently at resistance level. If price will break this resistance, there is a good chance it will reach 20 per share. Otherwise, it will eventually drop if resistance will be broken and find support at 17.00 per share.

FLI – Kijun Sen line at 1.80 per share may continue to pull the price down.

FOOD – sideways movement seen but a spike could happen this week while Kijun Sen line is moving horizontally

GERI – may continue to drop and find support at 1.43 per share.

HLCM – has been declining for quite sometime now but we don’t see any bullish signal yet. It might drop further towards 11.8x level unless we see a bullish candlestick formation soon.

HVN – another good run for HVN but for those latecomers, its not a good position to be in already. Sellers may soon take profit that will bring the price down and close the gap created last Friday.

JGS – may continue to rise this week while there is no bearish signal seen but be on guard what will happen to the price movement this week as it is very near the Kumo already. Remember that Kumo or Cloud at this point is a resistance to JGS.

LIHC – possible spike the will be brought by Kijun Sen line is still there.

LMG – may continue to move up but not without headwinds. Daily chart suggests that the bulls are having a hard time breaking the Kumo but weekly chart suggests a pull from two Ichimoku elements.

LPZ – sideways with bearish bias.

LR – sideways with bearish bias.

LTG – sideway with bullish bias.

MARC – daily chart shows bullish signal via Kumo Break and weekly chart may soon follow through. Will it reach 2.20 per share very soon?

MAXS – range trade within 17.65 and 21.32 per share

MEG – broke the resistance at 5.20 per share but another resistance at 5.40 per share is waiting and may hard for bulls to break.

MPI – went up by 6.5% to close at 6.76 per share. It respects its current upward trend. It is expected to hit the resistance slope soon. Headwinds might be there but not much.

MPI

MPI

MRC – went up by 15.8% and maintains its bullish sentiment. Could hit the resistance slope very soon.

MRP – after breaking the Kumo two weeks ago, the newly found support has been tested and so far it held its ground. Another test might happen this week. Support is the Kumo that was broken.

MRSGI – down by 2.8% and wasn’t able get inside the Kumo. Bullish sentiment is still intact so a drop is a welcome event.

NIKL – bullish signal created via Kumo Break. Price may continue to move up but with headwinds while RSI or Relative Strength Index is starting to go to overbought level.

NOW – up by 4.2% to close at 2.50 per share and met its resistance. Expect some headwinds this week.

PCOR – Kumo Break last week but some traders are taking profit last Friday. Newly found support may be tested this week. It is at 10.26 per share.

PGOLD – went up as high as 52.80 per share but settled at 51.15 per share just around the resistance posted by the 161.8% Fibonacci Retracement level. The stock is already overbought with RSI at 84.26 so expect a shaky week. Bullish sentiment is still intact.

PNX – still in consolidation mode.

PXP – the bearish pattern the previous week was not confirmed. Instead price went up by 18.5% to close at 5.05 per share. This area has been a strong resistance few years ago and RSI or Relative Strength Index is already high so take extra care.

RWM – showing bullish sentiment last week after it breached the Kumo on daily chart. Price may continue to move up as we don’t see bears at the moment.

SECB – Kijun Sen at 230 per share is a threat for SECB. Price may be attracted towards that line.

SSI – tested the newly found support last week after dropping by 6.5% and so far it holds but be in a hurry to get in.

TUGS – up by 29.3% and closed at 3.00 per share. But bears are starting to sneak in so be careful.
Caveat!

Leave a Reply