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May 19, 2013
Email Address: [email protected].
Text messages to: 0917-543-9697
Welcome
“If you brood and worry about the ones that got away you'll miss the ones that are coming your way”
“I do not know what will happen. No one does. But we know what to look for.”- Arthur Cutten
LAST WEEK’S TRADING
Market Retreats from 7,400 High
Trading Gap Still Remains Unfilled
Stock market prices were all over the place with the PSE ending the week with a 0.24% increase and the PASHR down 0.47%. However, the PASHR being
down in large measure was due to the very strong drop of the PMINI stocks. Both indexes reached a new high with the PSE breaking above 7,400 and the
PASHR hitting 4,570. But the momentum that started the shortened trading week was not enough to push prices to a sustainable new high and the week
ended with back-to-back down days, especially on Thursday and Friday.
PSE Daily Chart
While reaching 7,400, the PSE broke to an historic high on the Buy/Sell Indicator and then fell back. The Buy/Sell indicator ended the week just above its
Medium Term Support level. The price chart shows that on Friday we came down to the short term Red Moving Average Line. From there, we might expect
a move higher but that is unlikely when we look at the information from the other charts. Further, we still have that gap staring at us at 7,093.
While that gap is still unfilled, there is strong reason to believe that this may be the week. The first Support on the Daily Buy/Sell Indicator would probably
not be enough to fill the trading gap. But the second Support would bring us to the 7,093 level and create a Bear Trap as we discussed last week.
PASHR Daily Chart
The PASHR closed the week on Friday below the short term Red Moving Average Line. That line is now flat. You can see the historic high on the Buy/Sell
Indicator and the first line of Support. A move to that Buy/Sell Indicator support would probably put the PASHR index at the Green Medium Term Moving
Average Line. A move on the PASHR to the Green Moving Average Line would most likely bring the PSE down to a level that would fill its trading gap.
This is a further indication that we may see a Bear Trap on both indexes.
PSE Weekly Chart
Last week I was concerned that the PSE Weekly Chart might show us an “Evening Star” Pattern. Here is the evening Star” pattern once again.
As you can see from the PSE Weekly Chart, we did not create an “Evening Star”. That is a good sign as the Evening Star might predict a strong downside
reversal. However, the closing pattern this past week does say that we need to go down to fill the large distance between price and the Red Short Term
Moving Average Line. Here once again that is another reason to expect the PSE Daily Chart trading gap will be filled.
The Buy/Sell Indicator is neutral just below the historic high level.
PASHR Weekly Chart
The PASHR Weekly Chart gives us a “Shooting Star” pattern. A ’Shooting Star’ forecasts a downward movement most of the time. However, it only signals
a downside reversal 59% of the time which is statistically not significant. Therefore, here again, the conclusion is a short term downside movement.
The realistic project is for a 2.7% to a stronger 4.4% downside move. The worst case scenario is for this index to go all the way down to the Green Long
Term Moving Average Line for a 7.2% decline.
PSE Index Issues
I have highlighted a few of the issues that have given some wild moves in the past three weeks. Some are accelerating to the downside. Others are trying to
recover. Still others are still going higher but at a slowing speed.
Issues are certainly not all moving in the same direction. It is a market of stocks, not a stock market.
And when you see this kind of trading, it means that traders are undecided which way the market is going to go in the future.
Issue Percentage
Change
Previous Week
Percentage Change
Two Week Past
Percentage Change
AC -0.5% 1.5% 3.4%
AEV -1.8% -2.4% 2.5%
AGI -1.7% 5.6% 0.2%
ALI 1.2% 2.9% 4.3%
AP 0.6% -4.1% 1.9%
BDO 2.9% 0.3% 1.3%
BEL -1.1% -2.7% -4.4%
BLOOM 4.9% 0.8% -4.7%
BPI 3.5% -0.5% 0.6%
DMC -2.7% 0.5% 5.7%
EDC 0.3% -0.5% -3.2%
FGEN 1.1% -4.1% 0.2%
GLO -3.5% 4.5% 14.0%
ICT -8.2% 5.8% 3.2%
JFC 4.0% 3.5% 0.4%
JGS 0.0% 0.1% 2.2%
MBT 3.7% 1.4% 6.3%
MEG -3.3% -0.2% 1.9%
MER -2.6% 2.1% 6.9%
MPI -1.5% -0.2% 5.3%
MWC 1.1% -0.7% 0.6%
PCOR -1.2% 4.3% 1.3%
PX -13.6% -4.1% 0.8%
RLC -5.0% -0.8% 1.4%
SCC -6.7% -0.7% 0.9%
SM 1.6% -1.1% 2.8%
SMC -6.5% 0.8% -0.5%
SMPH 0.5% 0.0% 1.8%
TEL 1.7% 1.2% 3.3%
URC 3.1% -0.6% 7.6%
This past week we saw short term reversals on both the PHLDG and PSERV. The story is the PMINI losing 12.5% in the past two weeks.
Summary of Index Changes
Issue/ Symbol
5/17/2013 Closing Price
5/10/2013 Closing Price
Percent Change
Previous Week
Percentage Change
PSEi 7,279.87 7,262.38 0.24% 0.65%
PASHR 4,496.21 4,517.42 -0.47% 0.61%
PFINC 1,893.94 1,871.86 1.18% 0.19%
PCOMM 10,991.44 10,933.62 0.53% -0.02%
PHLDG 6,554.28 6,579.69 -0.39% 0.56%
PPROP 2,980.81 2,979.19 0.05% 1.04%
PSERV 2,123.00 2,134.04 -0.52% 1.90%
PMINI 17,688.26 19,527.30 -9.42% -3.13%
Heavyweight Issues That Move the Subsector Indexes
PCOMM PFINC PHLDG PMINI PPROP PSERV
FGEN BDO AC AT ALI BLOOM
FPH BPI AEV LC MEG GLO
MER MBT AGI LCB RLC ICT
MWC SECB SM PX SMPH TEL
PFINC Weekly Chart
While there are still some potential upside movers in the PFINC shares, the overall index is ready to drop. The price is far away from the Red Moving
Average Line and the Buy/Sell is Neutral with a negative bias.
PCOMM Weekly Chart
The story is the same for the PCOMM; large gap between the Red Moving Average Line and a Buy/Sell that has a negative bias.
PHLDG Weekly Chart
You see how the major subsector indexes are lining up to fill that gap between price and Moving Average Line? The negative bias is stronger here on the
PCOMM.
PPROP Weekly Chart
And again, we see the same story here on the PPROP. Here the gap between the price and Moving Average is not as large therefore, we should see this index
go down but not as much as the others that may potentially fall.
PSERV Weekly Chart
“Shooting Star”, price/Moving Average Line gap, and a slightly negative Buy/Sell Indicator. The market is going down in the short term.
PMINI Weekly Chart
The PMINI is at Support but this is not a Selling Climax yet. We may get a bounce higher from this point but under no circumstances should you Buy into
this potential upside move.
Sellers are convinced mining issues are going lower but Buyers are still looking for “bargains’. That situation does not make a Selling Climax.
The PMINI is also a tremendous drag on the whole market right now.
Summary
The market could not sustain its upside momentum from the previous week. The trading gap looks more and more like it is going to be filled. A Bear Trap is
a strong possibility.
I said last week that a large move was coming. The previous week’s momentum said that there was a good possibility that the move would be higher. But I
also said that “the chart patterns which include the gap, the Buy/Sell indicator, and the neutral patterns, say it could go either way”.
After this past week’s price movement, it is very difficult to believe that coming move will be higher.
THE BIGGER PICTURE
STRATEGY SUMMARY
“No Buying Opportunity Until Trend Turns To The Upside And Is Confirmed”
That is the theme for this coming week. Our strategy is clear: Wait and Watch.
Last week I gave you the scenarios that I saw developing. It appears the winner is “We are going down to fill the PSE trading gap”.
But as we all know, this is the Philippine Stock Exchange where ANYTHING can happen. If, and it is a big ‘IF’ the market does not go down towards the
PSE gap, then Scenario number 3 “The market going to enter a new upside phase as we saw in November 2012” and prices are going to boom to the upside.”
will take place
That is why we need to Wait and Watch and then React.
The individual stock charts provide us with the forecast and give us the trading strategy.
AC Weekly Chart
AC also has a trading gap (which you cannot see on this Weekly Chart) at P640. If it moves to that area, then the weekly Buy/Sell Indicator moves to its
Support level.
ALI Daily and Weekly Chart
The Daily Chart says we are going down.
But the ALI Weekly Chart says a drop now would be a Buying opportunity. That is further confirmation of “No Buying Opportunity until Trend Turns
To The Upside And Is Confirmed”
BDO Weekly Chart’
BDO looks to be forming a Double Top at the current price level. But Buy/Sell Indicator is neutral and at Support. This is a further indication of a short term
move down creating a Bear Trap and then a good Buying opportunity. Wait and watch.
GLO Weekly Chart
GLO is topping out at the current level. It has a long way down to meet the Red Short Term Moving Average Line. At that price the Buy/Sell hits Support
and another Buying opportunity.
MBT Weekly Chart
MBT has upside momentum but do not buy into that for the moment. The Buy/Sell Indicator is at an extreme high. Wait for the Buying opportunity that will
soon come.
MEG Weekly Chart
MEG is always a good trading stock. But here once again, a move to the Buy/Sell Indicator Support will create a Bear Trap and a Buying opportunity.
SM Weekly Chart
I will say it one more time. A move to the Buy/Sell Indicator support will create a Bear Trap and a Buying opportunity.
TEL Weekly Chart
A near extreme on the Buy/Sell Indicator and a large price/Moving Average Line gap.
Summary
Wait and watch . . . which is what I have said for the last two weeks. The market is ready for a strong upside move. But first we need it to, we want it to
create the best possible Buying opportunity and that is going to happen. Be patient. Also there is no reason to let prices go below Support.
The market is very likely to go down between 2.7% and 4.4% just let it happen and know that it is setting you up for some great profit opportunities.
Finally, do not let anyone talk you into buying the mining issues. I do not care if they are all up 5% this week. If that happens it will be a Bull Trap and you
will lose money. PMINI’s time is going to come, perhaps next month, two months, whatever. But when it does come you will be a very lonely Buy at price
lows. We will be buying the PMINI issues when no one else wants them. And we will be selling out for profit when everyone wants them.
ISSUES OF INTEREST
These are issues that are not on the Trend Analysis List but have increased volume or price movement that warrants attention.
Remember; do not trade these issues unless there is volume. Do not trade these if they move much below the “Entry Price”.
Issue/Symbol Closing Price Previous
Week Closing Price
Percent Change from
Previous Week
Entry Price Cut-Loss Below
Price Target Comment
COAL 1.02 1.04 -1.9% 1.05 1.03 1.20 Position closed on break of support.
DNL 8.32 8.31 0.1% 6.80 6.80 8.00 Position closed after
reaching target above P8.50.
GREEN 0.0180 0.0180 0.0% 0.0180 0.0170 0.0240
Volume increase and spike creates upside breakout.
Watch support very carefully.
PRIMARY TREND ANALYSIS
If the “Current Trend” has changed from the previous week, this is indicated by the new trend being underlined and in italics.
Selected Buying issues are highlighted in Blue.
Issue/ Symbol
5/17/2013 Closing
Price
5/10/2013 Closing
Price
Percent Change
Support Resistance Percent Above
Support
Percent Below
Resistance
Current Trend
Target Price if Current Trend
Continues
Trend Comment
Strategy
PSEi 7,279.87 7,262.38 0.24% 7,045 7,400 3% 2% Neutral/Selling 7,093
Trend is weak and
expect gap to be filled at 7,093.
PASHR 4,496.21 4,517.42 -0.47% 4,385 4,550 2% 1% Neutral/Selling 4,438
Top at 4,570 area is strong.
Trend turning
negative for move to 4,350. Expect
pullback of between 2.7% to 4.4%.
PFINC 1,893.94 1,871.86 1.18% 1,832 1,935 3% 2% Neutral/Selling 1,826
Trend is weakening and expect gap to be filled at 1,826.
PCOMM 10,991.44 10,933.62 0.53% 10,642 11,250 3% 2% Neutral/Selling 10,805
Upside momentum
is still weakening.
PHLDG 6,554.28 6,579.69 -0.39% 6,375 6,650 3% 1% Neutral/Selling 6,389
Trend is weakening and expect gap to be filled at 6,389.
PPROP 2,980.81 2,979.19 0.05% 2,880 3,030 3% 2% Neutral/Selling 2,887
Indecision pattern
with weaker upside
momentum.
PSERV 2,123.00 2,134.04 -0.52% 2,090 2,160 2% 2% Neutral/Selling 2,076
Upside momentum
is weakening.
PMINI 17,688.26 19,527.30 -9.42% 17,200 18,500 3% 5% Selling 17,000
Break below 18,000 now
targets 16,300.
ABS 45.45 44.00 3.3% 43.50 46.75 4% 3% Buying 50.00
Building upside
momentum on higher
volume for potential move to P55.00 if volume remains high. But watch for
pullback to Support if
volume decreases.
Buying opportunity
for move above
P52.50. Watch
Support and volume
carefully.
AC 668.50 672.00 -0.5% 650.00 680.00 3% 2% Neutral/Selling 650.00
Top at P670/680
area is strong.
No Buying opportunity until trend
turns to the upside and
is confirmed.
AEV 56.00 57.00 -1.8% 53.70 57.50 4% 3% Selling 54.00
Break below P55 will
then target P50.
No Buying opportunity until trend
turns to the upside and
is confirmed.
AGI 26.00 26.45 -1.7% 25.00 27.25 4% 5% Neutral/Selling 24.75
Trend is reversing
for move to as low as
P23 unless there is a
break/hold of P27.60 quickly.
No Buying opportunity until trend
turns to the upside and
is confirmed.
ALI 33.90 33.50 1.2% 32.65 35.00 4% 3% Neutral/Buying 32.70
Upside momentum is only fair and expect short term pullback to as low as P31.60.
Speculative Buying
opportunity for move to P38. Watch
support and volume
carefully.
AP 36.35 36.15 0.6% 35.40 37.70 3% 4% Neutral/Selling 36.80
Range bound
between P36/P38.
But building good short
term Support at P36 area.
Very speculative
Buying opportunity for move to P38. Watch
support and volume
carefully.
AT 19.90 20.55 -3.2% 19.65 20.80 1% 5% Selling 19.50
Failure to break/hold P20.50 now
targets P19.50.
No Buying opportunity until trend
turns to the upside and
is confirmed.
BDO 95.80 93.10 2.9% 92.15 99.00 4% 3% Neutral/Buying 100.00
Building upside
momentum on higher
volume for move to P100+.
Speculative Buying
opportunity for move to
P100.
BEL 6.45 6.52 -1.1% 6.28 6.75 3% 5% Selling 6.20
Failure to break/hold P6.75 now
targets move to P6.25.
No Buying opportunity until trend
turns to the upside and
is confirmed.
BLOOM 12.80 12.20 4.9% 12.00 13.47 6% 5% Neutral/Buying 13.60
Building upside
momentum on higher
volume for move to P14.50.
Speculative Buying
opportunity for move to
P13.60. Watch volume
very carefully.
BPI 106.60 103.00 3.5% 102.50 110.00 4% 3% Buying 112.00
Break/hold of P106
positive for move to
P115. Must hold P100.
Speculative
Buying opportunity for move to
P115. Watch volume
very carefully.
CHIB 76.95 75.60 1.8% 75.00 78.00 3% 1% Neutral/Selling 75.00
Upside momentum
is slightly weaker.
Watch for pullback to fill gap at P71 area.
Very speculative
Buying opportunity for move to
P81.
DMC 58.00 59.60 -2.7% 56.05 60.40 3% 4% Selling 56.30
Failure to break/hold
P60 now targets P56 unless P58
holds.
No Buying opportunity until trend
turns to the upside and
is confirmed.
EDC 6.35 6.33 0.3% 6.30 6.70 1% 6% Neutral/Buying 6.40
May have found a
bottom at P6.30 area for move to P6.60. Low
volume.
Very speculative
Buying opportunity for move to
P7.50. Watch volume
very carefully.
EEI 15.20 15.26 -0.4% 14.45 16.00 5% 5% Neutral/Selling 14.75
Trend turning
negative on lower
volume.
Very speculative
Buying opportunity for move to P17. Watch
Support very
carefully.
ELI 1.12 1.12 0.0% 1.10 1.15 2% 3% Neutral/Buying 1.14
Indecision pattern but
trying to build upside momentum. Must have
more volume.
Very speculative
Buying opportunity for move to
P1.17. Watch volume
very carefully.
EW 36.65 37.00 -0.9% 35.35 38.00 4% 4% Selling 35.60
Trend negative
after failure to break P37 area
top.
No Buying opportunity until trend
turns to the upside.
FDC 6.70 6.90 -2.9% 6.60 7.25 1% 8% Neutral/Selling 6.50
Failure to break/hold P7.00 top
now targets P6.30.
No Buying opportunity until trend
turns to the upside.
FGEN 22.20 21.95 1.1% 21.90 23.25 1% 5% Neutral/Buying 23.00
If bottom at P22 area
holds, price will move quickly to
P24 on any increased volume.
Very speculative
Buying opportunity for move to
P24.00. Watch
volume.
FLI 2.22 2.04 8.8% 2.10 2.32 5% 5% Buying 2.32
Strong upside
move on break/hold of P2.07 on
higher volume.
Speculative Buying
opportunity for move to
P2.42. Watch
volume and for pullback
to P2.10.
FPH 106.70 108.80 -1.9% 105.00 110.00 2% 3% Selling 105.00
Indecision pattern
with slightly negative
trend.
No Buying opportunity until trend
turns to the upside.
GERI 2.27 2.50 -9.2% 2.15 2.36 5% 4% Neutral/Buying 2.15
Failure to hold P2.40 turns trend
negative but may
find a bottom at
P2.20.
No Buying opportunity until trend
turns to the upside.
GLO 1,564 1,620 -3.5% 1,550 1,600 1% 2% Neutral/Selling 1,550
Failure to hold P1,620 turns trend
negative but may
find a bottom at
P1,550.
No Buying opportunity until trend
turns to the upside.
GMA7 9.79 9.90 -1.1% 9.50 10.00 3% 2% Neutral/Selling 9.60
Indecision pattern
with slightly negative
trend.
No Buying opportunity until trend
turns to the upside.
GTCAP 852.00 860.00 -0.9% 811 885 5% 4% Neutral/Selling 840
Failure to hold P880
turns trend negative but may
find a bottom at
P850.
No Buying opportunity until trend
turns to the upside.
ICT 92.25 100.50 -8.2% 90.00 95.75 2% 4% Neutral/Selling 90.00
Failure to hold P100
turns trend negative but may
find a bottom at
P91.
No Buying opportunity until trend
turns to the upside.
JFC 139.40 134.00 4.0% 134.20 140.00 4% 0% Neutral/Buying 135.00
Reached target price
at P140 which is
now turning into a top. Watch for pullback to P135 area.
Speculative Buying
opportunity for move to
P155. Watch
volume.
JGS 48.50 48.50 0.0% 46.25 50.00 5% 3% Neutral/Selling 46.00
Indecision pattern now
with negative
bias. Building top
below P50.00.
No Buying opportunity until trend
turns to the upside.
LPZ 6.82 7.01 -2.7% 6.70 7.00 2% 3% Selling 6.60
Failure to hold P7.00
now targets P6.60 and
lower.
No Buying opportunity until trend
turns to the upside.
MBT 136.30 131.50 3.7% 131.00 140.00 4% 3% Neutral/Buying 132.00
Upside momentum is good but watch for
pullback to P132 area.
Speculative Buying
opportunity for move to
P140. Watch volume
carefully.
MEG 4.05 4.19 -3.3% 4.00 4.15 1% 2% Selling 4.00
Must hold P4.00 or
then targets P3.85.
No Buying opportunity until trend
turns to the upside.
MER 384.80 395.00 -2.6% 375 390 3% 1% Neutral/Selling 375
Top at P395 area is
growing stronger
and trend is turning
negative.
No Buying opportunity until trend
turns to the upside.
MPI 6.09 6.18 -1.5% 6.00 6.30 1% 3% Neutral/Selling 6.00
Top at P6.20 area
growing stronger.
Trend turning
negative on higher
volume.
No Buying opportunity until trend
turns to the upside.
MWC 40.40 39.95 1.1% 40.00 42.00 1% 4% Neutral/Buying 42.00
Indecision pattern at pivot price of P40.00. Must hold
current level or
then targets P38.50.
Speculative Buying
opportunity for move to
P42.00. Watch
support.
PCOR 15.94 16.14 -1.2% 15.75 16.75 1% 5% Neutral/Selling 15.55
Top at P16.00 area is growing
stronger on low volume.
Trend is beginning
to turn negative.
Very speculative
Buying opportunity for move to
P18.20. Watch
support.
PGOLD 39.85 40.80 -2.3% 39.25 41.00 2% 3% Neutral/Selling 38.00
Failure to hold P40.00 now targets
P38.00.
No Buying opportunity until trend
turns to the upside.
PNB 109.80 113.80 -3.5% 105.00 113.00 4% 3% Selling 105.00
Trend is negative for
move to P105.
No Buying opportunity until trend
turns to the upside.
PX 13.80 15.98 -13.6% 13.00 14.25 6% 3% Selling 13.00
Trend is negative for
move to P13.
No Buying opportunity until trend
turns to the upside.
PXP 19.76 25.30 -21.9% 19.00 21.00 4% 6% Selling 16.20 Trend is
negative.
No Buying opportunity until trend
turns to the upside.
RCB 73.50 72.75 1.0% 71.50 75.00 3% 2% Neutral/Selling 71.00
Indecision pattern
with negative
trend.
No Buying opportunity until trend
turns to the upside.
RLC 24.70 26.00 -5.0% 23.50 25.60 5% 4% Neutral/Selling 24.00 Trend is
negative.
No Buying opportunity until trend
turns to the upside.
SCC 280.00 300.00 -6.7% 273.00 286.00 3% 2% Selling 273.00 Trend is
negative.
No Buying opportunity until trend
turns to the upside.
SECB 181.00 200.80 -9.9% 175.00 190.00 3% 5% Selling 176.00 Trend is
negative.
No Buying opportunity until trend
turns to the upside.
SM 1,179 1,160 1.6% 1,128 1,200 4% 2% Neutral/Selling 1,150
Potential top at
P1,200. Trend is turning
negative.
Very speculative
Buying opportunity for move to
P1,225. Watch
support and volume
carefully.
SMC 115.00 123.00 -6.5% 113.00 120.00 2% 4% Neutral/Selling 110.00 Trend is
negative.
No Buying opportunity until trend
turns to the upside.
SMDC 8.53 8.61 -0.9% 8.50 9.00 0% 6% Neutral/Selling 8.00 Trend is
negative on low volume.
No Buying opportunity until trend
turns to the upside.
SMPH 20.15 20.05 0.5% 19.40 20.90 4% 4% Neutral/Selling 19.50
Indecision pattern
with slightly negative
trend.
Speculative Buying
opportunity for move to
P23.00. Watch volume
carefully.
TEL 3,180 3,128 1.7% 3,025 3,200 5% 1% Neutral/Buying 3,100
Trend is turning
negative after
reaching upside
target at P3,200 for move to P3,100.
No Buying opportunity until trend
turns to the upside.
UBP 153.80 153.80 0.0% 146.00 160.00 5% 4% Neutral/Selling 145.00
Potential top forming
at P155. Trend could
turn negative
very quickly.
Very speculative
Buying opportunity for move to
P165. Watch volume
carefully.
URC 127.90 124.00 3.1% 123.00 130.00 4% 2% Neutral/Selling 123.00
Potential top forming near P130.
Trend could turn
negative very
quickly.
Speculative Buying
opportunity for move to
P140. Watch volume
carefully.
SECONDARY TREND ANALYSIS
Issue/ Symbol
5/170/2013 Closing
Price
5/10/2013 Closing
Price
Percent Change
Support Resistance Percent Above
Support
Percent Below
Resistance
Current Trend
Target Price if Current Trend
Continues
Trend Comment
Strategy
ACR 1.40 1.42 -1.4% 1.36 1.45 3% 4% Selling 1.37
Must hold current level or
then targets
P1.32/1.34.
No Buying opportunity until trend
turns to the upside.
CEB 79.50 81.30 -2.2% 77.85 81.50 2% 3% Selling 77.85
Trend is negative
for move to P76.20.
No Buying opportunity until trend
turns to the upside.
COSCO 16.62 17.50 -5.0% 16.00 17.50 4% 5% Neutral/Selling 16.00
Trend is going
negative on failure to
break/hold P18.00.
No Buying opportunity until trend
turns to the upside.
CPG 2.28 2.28 0.0% 2.20 2.35 4% 3% Neutral/Buying 2.35
Trying to build
upside momentum but volume
is low.
Speculative
Buying opportunity for move to
P2.40. Watch
volume and support
carefully.
DIZ 8.45 9.09 -7.0% 8.00 8.80 5% 4% Selling 8.00
Negative trend but may find a bottom at
P8.00.
No Buying opportunity until trend
turns to the upside.
FOOD 1.90 2.00 -5.0% 1.85 2.00 3% 5% Neutral/Selling 1.85 Negative
trend.
No Buying opportunity until trend
turns to the upside.
GEO 0.50 0.50 0.0% 0.49 0.52 2% 4% Neutral/Buying 0.52
Indecision pattern and no upside
momentum on low
volume.
No Buying opportunity until trend
turns to the upside.
LC 0.68 0.77 -11.7% 0.65 0.70 4% 3% Selling 0.65 Trend is
negative.
No Buying opportunity until trend
turns to the upside.
LR 8.15 8.19 -0.5% 8.05 8.40 1% 3% Neutral/Selling 8.00
Trend is negative on
lower volume.
No Buying opportunity until trend
turns to the upside.
LRI 12.14 11.50 5.6% 11.95 12.25 2% 1% Neutral/Buying 13.00
Upside momentum is building for move
above P13.00 but
needs more
volume or trend will
turn negative. Watch for top above
P12.20.
Speculative Buying
opportunity for move to
above P13.00.
LTG 25.75 25.55 0.8% 24.15 27.00 6% 5% Neutral/Selling 25.00
Upside momentum
is weakening
on low volume.
No Buying opportunity until trend
turns to the upside.
MA 0.051 0.055 -7.3% 0.050 0.053 2% 4% Selling 0.050 Trend is
negative.
No Buying opportunity until trend
turns to the upside.
MARC 1.68 1.79 -6.1% 1.64 1.74 2% 4% Selling 1.64
Failure to hold P1.75 turns trend
negative for move to
P1.60.
No Buying opportunity until trend
turns to the upside.
MWIDE 22.35 23.00 -2.8% 21.63 23.10 3% 3% Neutral/Selling 22.00
Failure to break/hold
P24.00 turns trend
negative for move to
below P22.00.
No Buying opportunity until trend
turns to the upside.
NI 3.05 3.25 -6.2% 3.00 3.25 2% 7% Selling 3.00 Trend is
negative.
No Buying opportunity until trend
turns to the upside.
NIKL 22.00 22.90 -3.9% 21.50 24.25 2% 10% Selling 21.10 Trend is
negative.
No Buying opportunity until trend
turns to the upside.
ORE 2.27 2.55 -11.0% 2.20 2.38 3% 5% Selling 2.20 Trend is
negative.
No Buying opportunity until trend
turns to the upside.
OV 0.043 0.044 -2.3% 0.042 0.044 2% 2% Neutral/Selling 0.042
Trend is neutral
with negative bias. Low volume.
No Buying opportunity until trend
turns to the upside.
PIP 6.39 6.15 3.9% 6.21 6.50 3% 2% Neutral/Buying 6.50
Trend is neutral but
trying to build
upside momentum
on higher volume.
Very speculative
Buying opportunity for move to
P6.80. Watch
volume and support.
PNX 7.44 7.36 1.1% 7.20 7.60 3% 2% Neutral/Buying 7.50
May find bottom at
current level for move to P8.10 if volume
goes higher.
Speculative Buying
opportunity for move to
P8.00. Watch
volume and Support.
RFM 5.81 5.90 -1.5% 5.70 6.00 2% 3% Neutral/Selling 5.68
Trend is negative
for move to P5.65 area.
No Buying opportunity until trend
turns to the upside.
VLL 6.88 6.99 -1.6% 6.65 7.25 3% 5% Neutral/Selling 6.75
Potential top above at 7.00 is growing stronger.
Speculative Buying
opportunity for move to
P8.00. Watch
volume and support.
WEB 15.46 15.56 -0.6% 14.90 15.90 4% 3% Neutral/Selling 15.00
Failure to break/hold P15.50 is turning trend
negative.
No Buying opportunity until trend
turns to the upside.
Disclaimer:
Mangun on Markets is a private subscription e-newsletter prepared and published by John Mangun. It is a technical analysis of the Philippine Stock Market
and individual stocks traded on the Philippine Stock Exchange. It is strictly a personal analysis of technical aspects of the markets and not individual
investment advice to its subscribers. The information publish is based on my opinion and interpretation of data publicly available. Although I make every
effort to provide the most accurate and updated information possible, information cannot take into consideration your personal finances and goals, and
therefore it is not intended to be used as customized recommendation to buy, hold, or sell securities, or engage in any trading strategy. Any investment
recommendation may, only be made by a personal advisor or the broker of your choice.
Notwithstanding any other agreement or other communications between John Mangun and Subscriber to the contrary, receipt or use of any material provided
by John Mangun, at any time and through any means,