Pryce Corporation (PPC) closed today at 5.08 per share, up by 0.40 percent. PPC is up by 0.79 percent WTD, down by 0.1965 percent MTD, and down by 12.41 percent YTD.
The main support is near 4.69 while the main resistance is in confluence with the 61.8 percent retracement of the Down Fibonacci, which is near 5.24.
PPC hit an intraday high of 5.32 today but profit-taking took over.
I see irregularities in the daily volume of PPC. This does not help me build a confident sentiment to say that the ascent in price is sustainable.
Even though my 10SMACD is still valid, the closing price is less than the volume weighted average price of 5.16. This makes my Fantastic Four signals invalid. Are you planning to enter a new position and buy the dip? This is a sign for you to reconsider your plan. You’re better of waiting for the Fantastic Four signals to become present again.
Everyone who attended my The Evergreen Strategy in Trading the Philippine Stock Market seminar, please refer to pages 2 and 3 of the latest handouts I sent you.
Trade-Volume Distribution
Last Price: 5.08
VWAP: 5.233011722
Most Traded: 5.08 – 5.26
Most Voluminous: 5.2 – 5.26
Volatility was extremely low in the second half of trading today that’s why the PPC didn’t have that much opportunity to drag the price back to the 5.20/sh level. Only one trade happened on PPC after recess courtesy of BPI Securities (buyer) and COL Financial (seller).
True Market Sentiment
True Market Sentiment of PPC as of Jul-23-2019 at 03:30PM, with a last price of 05.0800.
7 of the top 10 brokers registered a positive Net Amount
7 of the top 10 brokers have a higher Buying Average than Selling Average
True Market Sentiment: BULLISH
Top 10 Players’ Buying Average: 5.2290
Top 10 Players’ Selling Average: 5.2168
Bonus Info:
8 out of 13 participants or 61.54% of all participants registered a 100% BUYING activity
3 out of 13 participants or 23.08% of all participants registered a 100% SELLING activity
I speculate that PPC was a victim of “sell on news” today since it disclosed that its net income for 1H2019 was up by 25.80 percent. If my speculation is true, there’s a chance for the price to go back to the 5.20/sh level tomorrow, specifically within the dominant range presented by my Trade-Volume Distribution chart above. Let’s see if the 7 bullish members of the top 10 brokers’ list today can influence the majority of the members of the top 10 brokers’ list tomorrow.
Recommendations
Do you have PPC? If the prevailing price is above your trailing stop loss, I suggest that you observe the price movement tomorrow. If PPC starts at a price lower than 5.08 tomorrow, sell a few tranches assuming the size of your position on PPC is worth dividing into an N number of tranches. If you’re subscribed to our subscription service at Equilyst Analytics, I highly recommend that you post a request for PPC’s latest Trade-Volume Distribution and True Market Sentiment charts in the Private Clients Forum so my team and I can give you our latest recommendation.
You don’t have PPC but you’re planning to add it in your portfolio? I suggest that you postpone that plan and continue monitoring PPC for now. I already said something about this in my analysis above. You’re better of waiting for the Fantastic Four signals to re-appear before you do a test-buy. Of course, you must calculate your reward-to-risk ratio and be satisfied with your potential reward over your potential risk before you do a test-buy within the latest dominant range of PPC. Like what I suggest for those who have had PPC, please post a request for PPC’s latest Trade-Volume Distribution and True Market Sentiment charts in the Private Clients Forum so we can update you.
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