Philippine Infradev Holdings Inc. (IRC) plunged by 4.03 percent as of market closing on December 13, 2018. This was once a stock that was busy consolidating in the 0.70/sh before 2018. Who would have thought that it would hit its 52-week high of 2.97 last October 2018?
If you’ve been trading for a while now, you may have noticed that hyper stocks need to go back to the consolidation mode to regain their bullish momentum. Trading the range is the game plan I see on IRC based on how its chart looks at the moment.
For IRC’s ascent to continue, I prefer seeing this stock above 2.51. That should also give the 10-day moving average a chance to cross above the 50-day moving average. I prefer to see the the shorter-term MAs moving above the longer-term MAs. When that happens, it sort of confirms the bullishness of the stock in the short-term period, at least.
IRC’s MACD is in a bearish position as it moves below the signal line. A bullish divergence is still far on sight.
On the other hand, do not expect the foreign investors to act as the key players of IRC. Yes, they are trading this stock but their daily total turnover value for this stock is insignificant.
If and when IRC falls below 2.33, ready yourself near 2.16. Is today’s bearish price movement more likely to continue tomorrow? Let’s see what my Price-Volume Distribution and Top 10 Players charts say.
Price-Volume Distribution
VWAP: 2.4392
Top 5 Prices (Biggest Trades): 2.38, 2.4, 2.41, 2.5, 2.39
Top 5 Prices (Biggest Volume): 2.38, 2.4, 2.5, 2.41, 2.54
The mean of today’s intraday high and low is at 2.46. Since the mean is higher than IRC’s VWAP of 2.44, I would give one point to the bears. Tomorrow, I suggest that you watch out for the top 5 prices with the biggest trade and volume. These prices may act as intraday support and resistance levels tomorrow.
Top 10 Players
Trading participants of IRC with a 100% Buying and Selling Activity as of Dec-13-2018 at
17 out of 50 participants or 34.00% of all participants registered a 100% BUYING activity
10 out of 50 participants or 20.00% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 2.4512
Top 10 Players’ Selling Average: 2.4354
The psychological average price of the top 10 players as of Dec-13-2018 at
It’s interesting to see that 34 percent of today’s participants registered a 100 percent buying activity on IRC. I presume those are the traders who chased the stock between 2.70 and 2.90 and they’re now trying their luck with the “average down” strategy. It is also possible that these are new entrants who are trying to pre-empt the possibility that IRC would rebound at or near 2.33.
Even though the top 10 players’ buying average is higher than the top 10 players’ selling average, it is still below the mean of today’s intraday high and low of 2.46. I would give another point to the bears.
Know that this is only the top 10 players’ sentiment for today’s trading. If you are a subscriber of EquiPicks, you may post a request in the Private Clients Forum for the week-to-date and month-to-date top 10 players’ sentiments and I will give a clearer view of the bigger picture.
My Recommendations
Do you have IRC? If so, follow your trailing stop loss and you should be fine.
You have IRC but you are undecided whether you should hold or buy some more? I’ve given you my assessment above already. I gave two points to the bears. The bulls got nothing. Given that sentiment, would you rather hold your position or take more risks by buying more shares in tranches? Whichever you choose, base it on your risk tolerance. But whether you decide to buy more or hold your position, make sure that IRC is trading above your trailing stop loss. Otherwise, what are you waiting for, pal?
You don’t have IRC and you’d like to ask me if it’s okay to enter a new position? Stay on the sidelines for now. See if IRC will hold above 2.33 or it’ll re-visit 2.16. Are you familiar with my 10SMA-MACD combination? It’s one buy signal for me when the price moves above the 10-day moving average and when the MACD crosses above the signal line.
Did you find this helpful? Please tell me in the comments.
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