On a year to date basis, $X is down by 0.39%, which it needs to take back Php15.22 before the year ends, in order to have a good run by next year. If you look at the trendline on the figure below, it has been broken (though sometimes drawing this trend-lines are quite subjective).
 |
| Figure 1: X Daily Chart |
The trade last Friday was down, having a max volume in ten (10) days, which would sometimes signal that the selling pressure might be exhausted, thus a signal to watch the stock closely and maybe up for a bounce.
 |
| Figure 2: $X Parameters |
Parameters for Support and Resistance are shown above, with a potential bullish Gartley forming and the Potential Reversal Zone is around Php13.20. Statistics shown below for reference.
| Stock
name |
X |
| Current Price |
15.16 |
| YTD Return |
-0.39% |
| 52Wk High |
20 |
| 52Wk Low |
10.5 |
| MVWAP (10
days) |
15.43 |
| MVWAP (20
days) |
15.94 |
| MVWAP (65
days) |
16.53 |
| MVWAP (252
days) |
16.01 |
| YTD Flow |
212,786,368.00 |
| 20D Ave Volume |
1,279,720 |
| 50D Ave Volume |
1,588,576 |
| 90D Ave Volume |
2,060,521 |
CAVEAT!
Disclaimer:
Trading is a risky thing and the post in this site are for educational purposes only. Equities and
Forex Trading is speculative in nature and may harm every trader and
investor by losing money. Thus, do not treat this post as a
recommendation to BUY or SELL a stock or a currency pair. Blog contents
are valid only on the date of publication and will be subject to change
without notice. Thus, the reader is advised to take precaution, and is
recommended to do their own studies before pressing the BUY and SELL
buttons. I will not take any responsibility with the readers trading
results.
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