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HEADLINES

Charting: $PSEi, $GERI, $NIKL, $PNX

Index closed up by 130pts or 1.5%. Curiously, there was significant movement on close from index heavyweights ($SM, $AC, $ALI). Good bounce from the 9SMA, and today’s action seem to negate the long bearish candle last Friday, continuing the bounce since Oct27. 8600 resistance coming up.

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Back to some charting exercises. One way to improve in technical analysis and charting is to really keep on practicing, to keep on doing it again and again and hopefully, for Juan to find his own personal Holy Grail of charting strategies — indicators, set-ups, etc. Every Juan of us has to keep on practicing to reach at least 10,000 hours and hopefully see drastic improvement in our stocks positions beyond the 10K hours.

Caveat emptor. Read here for my disclaimers and disclosures. The following charts are not in anyway a solicitation to buy (or sell). At best, these are educated guesses and hypothesis based on price action as of today, on what may happen in the short term, but tomorrow’s price action may easily invalidate these conclusions.

PSEi

PSEi_20171106

  • Index closed up today by 130pts or 1.5%. Curiously, there was significant movement on close from index heavyweights ($SM, $AC, $ALI)
  • Good bounce from the 9SMA, and today’s action seem to negate the long bearish candle last Friday, continuing the bounce since Oct27
  • Volume is below 20SMA, minimal Net Foreign Buying
  • Stochastics still show bullish momentum, not yet overbought. MACD crossed signal line (bullish), histogram is now above zero, RSI uptrend as well
  • Good start for the market, continuing the weekly signal bar last week. Current Monthly and quarterly uptrends remain intact.
  • Resitance at 8600, support 8383 then 8200.
  • Short-term bullish.

$GERI

$GERI_20171106.JPG

  • Bounce from support of 1.49 5 days ago still intact, closed above 9SMA, 20SMA, 50SMA and 100SMA (but no alignment of stars [AOTS] yet)
  • Net foreign buying after a few days of nil foreign participation. Higher volume.
  • Announced increased earnings today
  • Still within tight range of 1.49 to 1.59 for almost 3 months now. As they say, the longer the consolidation, the stronger the breakout. Question is, will we wait longer? Will it breach resistance this time around?
  • Bullish uptick in stochastics and RSI. MACD still sideways.
  • Good start for the week, continuing the weekly signal bar last week. Current Monthly candle a potential trigger bar if it stays above 1.49. Quarterly uptrend remain intact.
  • Resistance at 1.60, 1.70; support 1.49.
  • Short-term range bound, awaiting bullish confirmation

$NIKL

$NIKL_20171106

  • Bearish candles the past 2 days but 7.39 is holding and higher than close 3 days ago
  • Prices still far from MA given surge 3 and 4 days ago
  • Increased net foreign buying the past 4 days despite decreasing overall volume. Foreigns buying while locals done with it for now?
  • Announced better earnings today but no reaction from market. Already priced in? Bullish outlook on global nickel prices as well.
  • Stochastics showing less momentum but not yet overbougt. MACD crossed signal line and histogram is above zero — both bullish. RSI is stalling.
  • Not a good start for the weekly candle, but hey it’s just one day. Must close this week above 7.39 to sustain good run last week. Current Monthly candle a potential trigger bar, same with quarterly.
  • Nearing resistance at 7.58 which was a major support last Sept; psychological support at 7 to 7.07, then far below at 6.71.
  • Made small hedge bet. Might be wrong, hope it works. Tracking LME Nickel prices, as well as action at 7.58. Not too volatile anyway.

$PNX

$PNX_20171106.JPG

  • Sideways with bearish bias in the short-term. Doji in 2 of the last 3 days. Closed at 11.70 today with minimal volume.
  • 9SMA and 20SMA converging at 11.6 area
  • Small net foreign buying today coming from net foreign selling the past 5 days
  • Stochastics show overbought readings despite lack of volume. MACD is above signal line, histogram is positive but not convincing since it’s been sideways for almost a month now. RSI losing momentum.
  • Stuck in 11.22 to 1.86 range for now.
  • Must close above 11.70 this week to sustain weekly candle run. Monthly candle showing range trade given bearish October candle. Price to beat on the monthly is 11.78 to create a potential signal bar. Quarterly candle is also range trade after 3 quarters of good bullish runs. Price to beat on the quarterly is 12.30. Otherwise, will need two more quarters to continue bullish run. There’s still time though.
  • Range trade. Potential oil play for next year. Or acquisitions, similar to Family Mart acquisition by DU recently.

Once again, caveat emptor.

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About Geri (356 Articles)
Founder and main author. Husband, used-to-be-breadwinner, God-made multi-millionaire, employee, financial planner and adviser, investor, stocks trader, entrepreneur, agri-preneur, book author. Firm believer that all Pinoys deserve a richer life. Not a guru, but a forever student of the investments world, a work-in-progress.

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