Christmas rally is over?

After reaching 6,059.78 today, index fell at the closing and ended at 5,923.12 Is our ran to 6K over? Our chart today is showing an Engulfing pattern with the small green candlestick yesterday engulfed by the long red candlestick today. This pattern is a reversal pattern which could mean a retrace in our index. Notice how the 20-day SMA line was able to resist the price from moving up. This also happened last December 2.

Notice also that price has come near the Kijun Sen which we said it has a strong power to attract price if it is going horizontally. Now that is has touched it, the resistance at this line may hinder index to continue to move up. Looks like the Christmas rally is over?

Caveat!

Will PGOLD be able to spike to 40 level?

Could this be the start of PGOLD‘s ascend after a long fall from 41? Today we are looking at the Harami Cross pattern from our candlesticks. This signifies that the bears power is diminishing. The almost Doji candlestick today signifies that there is an increasing level of indecision and uncertainty that amplifies the likelihood of a trend change and cause a reversal.

But based on Ichimoku system, we are still in a downward trend so if spike may happen, it may only be short-lived so be careful. I think the 40 – 41 may be hit but may not be able to surpass that line this time. The 40 – 41 range may also be possible if the Kijun Sen will continue to move horizontally as what it is doing right now.

Caveat!

Philippine Stock Market December 19, 2013 Top Gainers/Losers

Philippine Stock Exchange Index or PSEi is down by 38.43 points at the close or 0.64% to 5,923.12 Looks like the 20-day SMA line is a strong resistance?

Most active stocks by value are the following: TEL, AGI, ALI, MBT, SMPH, URC, SM, PGOLD, MCP and AC in which only SMPH, PGOLD and MCP are in green.

Check the top gainers and top losers of today’s trade.

Will SM retrace at 61.8% Fibonacci Retracement level?

After the 3-day ascend, is SM going to retrace this time? Candlestick registered today is a Doji which means that after the 3-day ascend, the buyers and the sellers are in equilibrium. Since the Doji is found after the ascend, this may mean that the bears are starting to counter the bulls. For those who are still holding SM should monitor this stock intently and act accordingly. In case the Doji will not be confirmed tomorrow via long red candlestick or gap down, next resistance will be around 787 or 50% Fibonacci Retracement level. Currently we are knocking at 61.8% Fibonacci Retracement level.

Caveat!

URC at 50% Fibonacci Retracement level

At this time URC is facing a headwind which may cause its flight to be disrupted. We have seen this stock bounced from 111 level to 120 but as of this time our candlestick is giving as a caution. With price sitting at 50%Fibonacci Retracement level and with Doji candlestick, this might be a sign for reversal. Since Doji is a weak reversal signal we need some confirmation via a long red candlestick or a gap down. Absence of that may mean a continuation of the trend and could hit 123 which is our next resistance.

Ichimoku elements are still in bearish mood. Be careful.

Caveat!

Is it the bottom for BLOOM?

It has been a while now that BLOOM is in a downward trend after the 9.80level has been broken. At 8.4 level it seems that BLOOM has bottomed. Will it reverse trend at this level? There is still no sign of any reversal though so if you want to test buy, be sure to monitor the stock’s movement and exit when needed. Monitor the Kijun Sen as it move horizontally, it may attract the price to come near it.

RSI or Relative Strength Index is at oversold level although it has started to go up now and is pointing upwards.

Caveat!

Bottom for DNL?

Has DNL bottomed out already at 6.0 ha is now ready for a reversal or it is just a 1 day wonder? Today we have seen DNL’s volume which is very big. Does ATR knows something that we don’t? Just like BLOOM, DNL has been falling for few weeks now and finally we see a large green candlestick which could be a signal for reversal. Resistance is around 6.30 where Kijun Senline is. If this will be broken, next resistance will be the Kumo or Cloud. As of this time, all elements from Ichimoku system is still in red. Be cautious if you want to enter because it might not be sustain its rally.

Caveat!

Philippine Stock Market December 18, 2013 Top Gainers/Losers

Philippine Stock Exchange Index or PSEi is in green for the 3rd consecutive day. This time it only registered 32.56 points or 0.55% to close at 5,961.55. On the first half of the trading day, it was the bears who monopolize the battlefield but the bulls were able to bring the index up. Will there be a rally tomorrow?

DNL went up with big volume. Is there something ATR know that we don’t?

Check the top gainers and top losers of today’s trade.

AGI went up following the Piercing Line

The Piercing Line we saw last Friday marks the ascend of AGI for two straight days and as we mentioned, the Kijun Sen line which moves in horizontal fashion attracts the price to come near to it. This is currently our resistance. At this time one should take extra careful as AGI might start to feel tired although RSI is still not in an overbought level. In case price will continue to move upward, the next resistance will be the cloud. For those who were holding AGI, it wont hurt to take profit tomorrow.

No bullish signal from Ichimoku system yet. A break from Kijun Sen will show us a weak bullish signal but that is yet to be seen.

Caveat!

BKD just taking a rest?

Chikou Span just added a weak bullish signal today for BKD but if you notice the Kumo or Cloud has been a strong support for this stock. Currently it seems that it is just taking a rest before a spike. The spike could be triggered by the Kijun Sen which is currently moving horizontally. Remember that when Kijun Sen moves this way, it attracts the price to come near to it.

RSI or Relative Strength Index is still away from the overbought level.

Caveat!

MEG breaking downward channel?

MEG broke away from the downward channel we saw since it drop last November. Is it going to be the start of the new trend for MEG? Current support will be the slope and this might be tested soon. Notice that Kijun Sen is moving in horizontal fashion and may attract the price of MEG, thus continuing to move upward. Will it reach 3.45? Monitor this line since it might also move away from current direction.

As of this time we don’t see any bullish signal from Ichimoku system so just be cautious.

Caveat!

Kijun Sen may attract our index to hit 6000-6100

Our index continue to move up for the week and currently at 5,928. Will there be more rallies to come? There is a possibility index will continue to move but may find resistance before it will hit 6,100. The rise may be attributed to theKijen Sen‘s magnetic power. As you can see this line is currently moving horizontally. This is the time when it can strongly pull the price to come near it. Price tends to move alternately away from and back toward the kijun sen in a cyclical fashion due to the kijun sen’s strong expression of equilibrium or stasis.

The rally may continue but as of this time it might be just for window dressing as Ichimoku system is still telling us that PSEi is in a downward trend. Minimize your greed.

Caveat!

Philippine Stock Market December 17, 2013 Top Gainers/Losers

Philippine Stock Exchange Index or PSEi is up by a 116.45 or 2% to close at 5,928.99 This is the second day of the rally. More to come?

Most Active Stocks by Value are the following: MBT, ALI, SM, BDO, AGI, RRHI, AC, PGOLD, TEL, SMPH where PGOLD and SMPH are in the red department.

Check the top gainers and top losers of today’s trade.

Bullish One White Soldier on ALI

Will the Bullish One White Soldier be the start of ALI’s reversal? Today we have seen this stock move up after the blood bath last week which brought theprice below 24 level. The move today seem to tell us that the bulls are ready to fight with the bears.

Kijun Sen line starts to move horizontally and they may attract the price to come near it. Remember that price tends to move alternately away from and back toward the kijun sen in a cyclical fashion due to the kijun sen’s strong expression of equilibrium or stasis

Caveat!

Engulfing pattern on URC

URC is showing a reversal pattern via the Engulfing pattern on its last two candlesticks. Will it reverse the trend at this time? We have seen URC drop hard last Thursday followed by another drop the next day but today the bulls came out and push the price up.

Engulfing patterns are not so strong though. With current market situation one must be careful and act immediately if this reversal pattern will not be confirmed.

Kijun Sen line seems to move horizontally, will it attract the price to come near it?

Caveat!

Philippine Stock Market December 16, 2013 Top Gainers/Losers

Philippine Stock Exchange or PSEi is up by 45.41 or 0.79% to close at 5,812.54. Will there be another run tomorrow?

Most active stocks by value are SM, ALI, RRHI, MBT, URC, MEG, AGI, TEL, AEV and AC where AEV and AC were the only stocks on the list that are in red. The rest closed in greed department.

Check the top gainers and top losers of today’s trade.

PGOLD: Reversal quite dim at this stage

Weekly: This week we have a weak bearish signal from Kijun Sen cross.Tenkan Sen is pointing downwards which may cross Kijun Sen line. If that will happen then we will have another bearish signal. But that is remain to be seen as of this time. Cross your fingers that won’t happen. In the meantime, price is at the Kumo which is our immediate support. Immediate resistance is our Kijun Sen line which is at 40.

Daily: Based on Ichimoku system, PGOLD is still bearish if we look at its daily chart. But a technical bounce may happen if we will see a confirmation on the bullish reversal pattern we see on our chart. Only problem is, every one is waiting for the bounce to sell so I don’t think a spike will prosper for few days, if there is.

Caveat!

SCC may develop a handle for the cup

Weekly: The Dark Cloud Cover last week was confirmed this week. Looks like SCC is heading south at the moment and while Kijun Sen line is moving in a horizontal fashion, price may be attracted to this line. Notice also that the recent peak of SCC is in line with the peak we saw last summer. Is it going to create a handle that is why it is retracing? Based on Ichimoku, SCC is still bullish.

Daily: The Cup and possible handle can also be seen in our daily chart. If the retrace is just creating a handle then the retrace is very much welcomed. Currently we have a Kijun Sen cross which is a weak bearish signal. It is called weak because the cross happened above the Kumo. Ichimoku system is telling us that SCC is still bullish in short term except for the recent Kijun Sen cross. For those who want to get some SCC, lets wait for a while.

Caveat!

SM: A spike may happen, but can it sustain?

Weekly: We can’t see any indication for reversal on our weekly chart and while Tenkan Sen and Kijun Sen lines has been twisted, other Ichimokuelements is saying SM is in a downward trend. Will it bottom at 675?

Daily: The Piercing Line which is a bottom reversal pattern may signal a spike for SM but not unless we will have a confirmation. Remember that traders are in a bearish mood and any spike means a good fire exit. You mayday trade if there is an opportunity but I don’t think it is the right time to enter for a long position.

Caveat!

SMPH at the bottom?

Weekly: Last week we saw a failed reversal pattern on SMPH and SMPH continued to move south after that. The recent development is quite interesting as we might see a possible bottom for SMPH at this level. If you notice it was last June that price reached this low and bounced from there for 5 weeks. Will history repeat itself?

Ichimoku system is telling us that SMPH is not totally in a downward trend as Tenkan Sen is hovering over Kijun Sen line. Observe also that if price will move up this week then we will see Chikou Span to show bullish signal.

Daily: On daily chart we notice that the traders of SMPH has not decided yet where they want SMPH to go. Notice the last two doji candlesticks which means that buyers and sellers are in equilibrium. In addition, SMPH may have just bottomed out at this level.

Caveat!

Will AGI rally this week?

Weekly: The weekly chart tells us that AGI is not all bullish. It showed a weak bearish signal this week via Kijun Sen Cross and Chikou Span is about to agree with the sentiment. Will there be more bearish signal to appear this week?

Daily: The Piercing Line pattern we see on our chart may signal a spike for AGI but take extra care when entering as some traders may use this moment to unload. There is also a chance that price will continue to go up and be attracted by the Kijun Sen line. Notice that this line currently move in ahorizontal line. If this will continue to do so, price may come near this line, thus creating an upward trend to 24.8

RSI or Relative Strength Index is currently pointing up from oversold level.

Caveat!

LTG moving away south after consolidating

The last two trading days concerns traders as it move away from the consolidation level. It has been observed that LTG has been consolidating with a possible break from 16 but the last two trading days made this stock fell to 14.6 If price will continue to fall, our support will be around 13. The weak bullish signal is still there but it seems the signal is has become dim.

Caveat!

MEG: On schedule to hit lower slope?

There have been few attempts for MEG to break from the resistance (upper slope) but all reversal patterns have failed. As of this time MEG has been falling and may soon hit the support line (lower slope) which is quite deep.

Like any stocks in our market, Ichimoku is telling us that MEG is in a downtrend in short to midterm. Any spike is an opportunity to lighten or day trade.

Caveat!