Ayala Land, Inc. (ALI), closed yesterday (March 4, 2019) with a red candlestick and volume that was 50% above its 10-day volume average.
This stock is still playing above its 200-day simple moving average (SMA). You can say that ALI is still bullish in the long-term perspective because of that. However, this name has succumbed below the 10- and 50-day SMAs already, which I consider as a position inside the bearish territory in the short-term. This means ALI might move sideways or continue to move in the southward direction.
For the long-term investors, you may want to add in your case (reason for holding or buying) the fact that foreign investors are still in a Net Foreign Buying mode for ALI year-to-date. It also has a low-risk level based on its volatility score of 32 percent on the daily chart.
The major resistance is near 44.80 while the major support is positioned near 40.60.
For the short-term traders, know that I don’t see any signs of the MACD wanting to make a U-turn from the southward direction.
Price-Volume Analysis
VWAP: 43.3414
Most Traded Prices: 43.3, 43.25, 43.45, 43.5, 43.35
Most Voluminous Prices: 43.3, 43.4, 43.35, 43.25, 43.5
Watch out for the 43.25-43.50 range.
Top 10 Players Analysis
Trading participants of ALI with a 100% Buying and Selling Activity as of Mar-05-2019 at 11:50AM:
4 out of 32 participants or 12.50% of all participants registered a 100% BUYING activity
8 out of 32 participants or 25.00% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 43.3246
Top 10 Players’ Selling Average: 43.3243
I see a strong demand to buy the stock up in the first half of today’s trading because the top 10 players’ buying average is above the average of today’s intraday high and intraday low.
My Overall Sentiment and Recommendations
Based on what I saw in the first half of trading today, ALI is having a bullish intraday moment.
However, the Net Foreign Trade is already at a Net Foreign Selling worth P22 million. Also, ALI’s current volume seems only one-eighth of its 10-day volume average. If I see a green candlestick, I prefer to see a strong volume that’s, at least, 50 percent of its 10-day volume average for me to develop a totally bullish conviction toward the stock. But we’ll see. It’s not the end of trading yet.
My overall sentiment is neutral to bullish on ALI based on the data of the first half of trading today.
Buy the dips if you’re a long-term investor and your buy case is at least 80 percent intact.
Wait for the price to decelerate below 43.00 per share if you’re a position trader or do a test-buy once the price moves above the 10-SMA and the MACD crossed above the signal line.
If you are my client, please post a request for my latest price and volume analysis of this stock in our Private Clients Forum tomorrow morning.
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