Good day Traders!
Here’s my weekly preview for blue-chips company
AC Ayala Corporation -Bullish bias, continue to push higher, I am expecting that this company will reached its previous high/resistance 908.
AEV Aboitiz Equity Ventures, Inc. – Bearish bias, still no clear sign of direction. A clear break above 79.40 will lead to bullish bias. Overall I am expecting a retest of low @66.29
AGI Alliance Global Group, Inc. – Bullish bias, and I am expecting a bounce near its previous resistance zone @13.90-14.00. Last week AGI is retracing, let’s see how far the retracement will go.
ALI Ayala Land, Inc.- Bullish bias, still consolidating and previous resistance 13.83 still holds a support now.
AP Aboitiz Power Corporation – Bearish bias, next low target is 38.51 previous low. However on short-term we are looking for a sideways/range set up. A good entry @41.50 which is the lower part of a range. Range bound market like this offers a good riskreward set-up.
BDO Unibank, Inc.– Bullish bias, BDO still in bullish momentum and I am expecting a retest of its previous high 127, and a clear break above here will lead to creation of new structure high.
BPI Bank of the Philippine Islands – ***Double-top formation detected, my bias is goes to bearish, and I am expecting a bearish move. Last Friday BPI closed with a perfect bearish pinbar, adding it to my confluence that this company will go down.
DMC DMCI Holdings, Inc.-Still within the range, 11.00-11.50 to 14, as expected the sideways/range set-up still in play and I am expecting a retest of the upper part of the range 14.00. A clear break above 14.00 will lead to a bullish bias, DMC is moving in a range since 2016. A failure to break above 14.00 will give another sideways trade opportunity once the price reached again 11 to 11.50.
EDC Energy Development Corporation– as expected, previous resistance still holds very strong. Price respected this level @6.0 zone. Market is very bearish last week and I am expecting more bearish momentum. I am expecting a bounce @5.7 and a clear break here will change my bias to bearish.
Emperador Inc.– Bearish bias, made a retracement @ 6.60 (0.382 fib level) target previous low 6.00, clear break below will lead to next psychological level 5.50
FGEN First Gen Corporation – Within a tight range 21 to 23, which gives another sideway/range trade set-up. I am buying on the lower part of the range. This sideways gives a good risk/reward ratio. Still overall bearish bias here, and I’m just taking advantage of the range bound price movement of FGEN.
GLO Globe Telecom, Inc.– Bullish bias, I am expecting a retest of previous high/resistance @ 2505
GTCAP GT Capital Holdings, Inc.– ***Double-bottom formation detected, my counter-trend trade set-up is still valide and I’ve seen a nice bounce/turn-around @1220. My target is 1615 and my level for invalidation is 1080.
ICT Int’l Container Terminal Services, Inc. – Bullish bias, and I am trading this possible trend continuation trade. ICT made a nice bounce on its previous resistance becomes support @87.00
JFC Jollibee Foods Corporation – We are almost @220 and with that I am neutral bias with this company as of this moment. It will be one of my watch list and paying close attention to next price movement. A clear break above 220 will start a new trend and bias, let’s see if 220 previous resistsance will be respected or not.
JGS JG Summit Holdings, Inc.– Bullish bias, still one of my active trade and made a good entry @ 81.01, stoploss- 76.13, take-profit – 95.00. Market still has a strong bullish momentum.
LTG LT Group, Inc. – Bullish bias, still one of my active trade and I made a good entry@ 15.47 , stop loss-14.67 , takeprofit – 18. LTG is forming a bullish head and shoulder pattern after a clear break on its neckline @16.00.
MEG Megaworld Corporation– Bullish bias, NEW TREND after we’ve seen a clear break above 4.10. We are still waiting for a correction for MEG. New structure high is still in play. For the mean time I am still waiting for an opportunity to ride this new bullish trend.
MER Manila Electric Company – Bearish bias, target previous strong support 256, a clear break here will lead to new structure low probably@220 October 2011/May 2012 low
MPI Metro Pacific Investments Corporation – My Double bottom formation trade still in play. Plenty bearish pinbars appeared last week and this is a caution for me. Over all still expecting a double bottom trade completion. Target completion of the pattern @7.50
PCOR Petron Corporation – Neutral bias, since our price is near the critical level @9.3 . Clear break above here will change my expecting to bullish bias. Still waiting for confirmation, PCOR is included in my watchlist.
RLC Robinson Land Corporation – My Double bottom formation trade still in play after a nice bounce from its previous support 23, target 1 – 28 and my final target is 33.
SCC Semirara Mining and Power Corporation– Bullish bias and I am expecting to reach my target @169. I already my a good entry last week @ 149, stoploss-140.3, take profit – 169.4
SM Investments Corporation– This company already made a break above its previous all time high @754.8 . Bullish bias but no appealing to me as the market is really really high.
SMC San Miguel Corporation– Bullish bias and made a good entry @107.50. My stoploss is 100.7, TP1 – 124 and my final take profit 189 (SMC all time high price)
TEL PLDT, Inc. – From bearish to bullish, TEL made a significant break above its previous resistance/psychological level – 1700. This change my expectation from bearish to bullish bias and I made a good entry @ 1700 , stoploss-1519, takeprofit – 2160
URC Universal Robina Corporation– New bullish trend in our list, and we are waiting for an opportunity to join this trend. Let wait for a weakness/retracement before joing this new bullish trend.
All my analysis are based from orderflow and I don’t use any indicators.