PCOR Petron Corporation – Bullish Bias

Pinoy trader good day!

Philippine stock market top gainer for today is PCOR Petron Corporation with a very bullish momentum for today. Pinoy stock trader bias for PCOR change to bullish bias after a clear break above 9.3. Pinoy stock trader is currently looking for a good retracement to join this new bullish trend. Pinoy trader must always look for weakness before joining a trend. In PCOR situation, Pinoy stocktrader preferred entry is previous resistance that might turn into support around 9.3 zone.

URC Universal Robina Corporation – Morning Gap

Pinoy stock trader good morning!

URC Universal Robina Corporation started this trading day with a gap, although  “filling the gap” trade set-up seems to be not working well in Philippine stock market, this scenario needs some attention for PSE trader.

URC is one of pinoy stock tader looking right now to jump the new bullish trend after breaking above its critical level 176. Pinoy trader interested in trading this trend should wait for a price action somewhere around 61,8 fib level.

URC must not break below 157.3, or it will lead to a neautral bias and pinoy stock trader should pay close attention to this level.

URC
Universal Robina Corporation – 11 May 2017

JFC Jollibee Foods Corporation – Retest of 220

Good day traders!

Not so much big move today and mostly of the company are bearish or no move at all.

JFC Jollibee Foods Corporation as expected in my previous analysis that 220 holds a critical level. From my analysis, I want a clear break above 220 to convince me for a new bullish trend. But today’s market shows JFC is not yet ready for another bullish trend as 220 rejected the price and JFC closed very bearish.

Overall I prefer to be neutral on this company with little bias to downtrend or bearish.

JFC
Jollibee Foods Corporation – Bearish pinbar yesterday plus a solid bearish candlestick today will tell you the story. 10 May 2017

FGEN First Gen Corporation – Break Out from Range Since Nov 2016

“Pinoy trader” Good day !

Another significant move happened today in the market. FGEN First Gen Corporation is the top loser for today and it is very bearish and finally after a long range bound price movement since November 2016, FGEN made a clear direction that it wants to go down which is inline with our overall expectation which is bearish bias.

Pinoy stock trader is expecting more bearish move for FGEN and expecting to reach 19.56 previous low and 17.71 .

 

By the way pinoy stock trader made a sideways trade set-up for this company FGEN and today my stoploss was hit @ 20.73 . It is what it is, pinoy stock trader plan the trade and trade the plan. That’s why its very important to set a stop loss level where you immediately get out whenever the plan is not working. Always remember that the market is always there and there will be a lot of opportunities to come. So make sure you protect what you have.

ICT Int’l Container Terminal Services, Inc. – Bullish Trend Continues

Good day traders!

ICT Int’l Container Terminal Services, Inc. is one of the top gainer for today and this is in line with my expectation that the market will continue its bullish trend. ICT is showing a text book example of a previous resistance level becomes support now. I made an entry after I’ve seen a reaction on this level and this trigger my entry for another ICT trade.

This is my trade last April 2017 for ICT, and manage to hit my take profit.

 

ICT 2nd entry this May 2017, after previous resistance becomes support.

 

LTG – HEAD AND SHOULDER PATTERN

Good day traders!

LTG LT Group, Inc. is one of my active trade because overall its bullish bias based from orderflow. But lately I found out that it is forming an almost perfect head and shoulder pattern. A more conviction for this pattern is the breakout  on its neckline @16. This gives more confluence to my bullish bias to LTG. Although my set-up for LTG is bullish trend continuation, having additional confluence is good. My target is 18.00, and if price reached this I can say the pattern is completed. Let’s see how the market wil play out.

LTG LT Group, Inc. -possible head and shoulder pattern

LTG LT Group, Inc. – my bullish trade set-up

WATCHLIST FOR THIS WEEK

Here’s my watchlist for this week.

Eto yung mga company na may new opportunity based on my orderflow analysis and sideways trade set-up. All my trade set-up are very basic, or text book trade that newbies can easily understand.

  1. AGI Alliance Global Group, Inc. – price already made a retracement, it is a shallow correction, although price didn’t reached the previous resistance, I still considering my 2nd entry for AGI. Made a good entry @14.62/ Stoploss – 13.44/Take profit – 17

2. AP Aboitiz Power Corporation – sideways trade set-up, it has a good risk-reward ratio, I already see some price reaction on lower part of the range and consider taking this trade set-up that I’ve been looking since last week.

3. FGEN First Gen Corporation  – another sideways trade set-up for me and made a good entry @21.35.

4.ICT Int’l Container Terminal Services, Inc. – bullish trend continuation trade.This is my 2nd entry for ICT as I follow its bullish trend. The 1st one is already closed and made some decent profit. I made a good entry here @90.80

5. 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.

6. 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)

8 TO 12 MAY 2017 WEEKLY PREVIEW

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.

EMP 
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.

www.pinoystocktrader.com

All my analysis are based from orderflow and I don’t use any indicators.

 

EDC Energy Development Corporation – Strong Resistance Respected

Good day traders!

For 2 consecutive trading days, EDC Energy Development Corporation is the Top Loser, this company shows a bearishness.

Its previous strong resistance is really acting like a ceiling, rejecting price once reached this level.

Traders should pay close attention to the company once they are approaching important level like this.

However, my bias for EDC
Energy Development Corporation is still bullish, and I want to pay attention to 5.7 level as critical level. A clear break below this level will change my expectation to bearish bias.

www.pinoystocktrader.com

URC Universal Robina Corporation – Bullish Confirmation New Trend

Good day traders!

Let me share with you the 3 bullish confirmation happened with URC.

Last month our bias for URC is bearish and lately we made a change in expectation after a clear break above previous resistance level 177.

If you zoomed in with the chart, URC has plenty of bullish confirmation. Range breakout and a triangle breakout to the upside. All gives a bullish confirmation for bullish bias. I prefer to wait for weakness/retracement before jumping with the new trend.

www.pinoystocktrader.com

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