AC Energy Corporation Technical Analysis
AC Energy Corporation (PSE:ACEN) went up by 3.20 percent, closed at ₱7.10 per share, and registered a total turnover value of nearly ₱266 million on March 12, 2021.
While the foreign investors are net buyers year-to-date, they registered a Net Foreign Selling worth ₱683,994 on the last trading day of the second week of March 2021.
ACEN’s main support is near ₱6.50, and its immediate resistance is near ₱8.00. The last price is closer to the immediate support than the immediate resistance. If buying near support is your strategy, I suggest that you confirm the presence of a buy signal first instead of blindly buying a stock just because it’s closer to the support than the resistance. Not every stock that’s closer to the support than the resistance is logically buyable.
While the last price of ACEN is higher than its 10-day simple moving average, its MACD is still moving below the signal line. I see a formation of a bullish convergence between those two lines, but ACEN needs to get past the median of the immediate support and resistance to see a golden cross on the MACD’s histogram. It’s the same interpretation I’ll give you when I look at the Directional Movement Index’s histogram of ACEN.
On the other hand, ACEN’s price has a moderate-risk sensitivity level due to its 10-day historical volatility score of nearly 52 percent. As a gentle reminder, not all stocks that have a low- to moderate-risk sensitivity level are buyable right away.
Dominant Range Index
Dominant Range Index: Bullish
Last Price: ₱7.10
Intraday Low: ₱6.8900
Intraday High: ₱7.2000
VWAP: ₱7.0786
Dominant Range: ₱7.04 – ₱7.10
It’s a good sign when the Dominant Range Index is bullish. It means the price range that got the biggest volume and highest number of trades on March 12, 2021 was registered closer to ACEN’s intraday high than its intraday low. Does this mean ACEN has a confirmed buy signal? Let me finish my synthesis first. I’ll tell you later.
Market Sentiment Index – EOD – March 12, 2021
Market Sentiment Index: NEUTRAL
8 of the top 10 brokers registered a positive Net Amount
4 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱7.0831
Top 10 Players’ Selling Average: ₱7.0901
6 out of 69 participants, or 8.70% of all participants, registered a 100% BUYING activity
20 out of 69 participants, or 28.99% of all participants, registered a 100% SELLING activity
Market Sentiment Index – WTD – March 8-12, 2021
Market Sentiment Index: BULLISH
6 of the top 10 brokers registered a positive Net Amount
7 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱6.8766
Top 10 Players’ Selling Average: ₱6.8444
9 out of 101 participants, or 8.91% of all participants, registered a 100% BUYING activity
11 out of 101 participants, or 10.89% of all participants, registered a 100% SELLING activity
Market Sentiment Index – MTD – March 1-12, 2021
Market Sentiment Index: NEUTRAL
5 of the top 10 brokers registered a positive Net Amount
5 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱6.9632
Top 10 Players’ Selling Average: ₱6.9447
11 out of 108 participants, or 10.19% of all participants, registered a 100% BUYING activity
8 out of 108 participants, or 7.41% of all participants, registered a 100% SELLING activity
Recommendations
ACEN didn’t pass all questions in the flowchart of my Evergreen Strategy 2.0. This means this stock doesn’t have a confirmed buy signal yet. For one, the average Market Sentiment Index across three timeframes is neutral. It’s as though we’re being reminded to be careful with our next trade or investment decision as far as ACEN is concerned.
If you don’t have ACEN yet, but you’re planning to do a test-buy, I suggest that you keep it on your watchlist for now. Please don’t buy it yet. Review the pre-recorded video of my Evergreen Strategy 2.0 if you haven’t memorized the flowchart yet. As often as you desire, you may ask for ACEN’s latest Dominant Range Index and Market Sentiment Index charts in our Private Clients Forum so you can tell on your own if this stock already has a confirmed buy signal according to my Evergreen Strategy 2.0. Also, don’t forget to calculate your initial trailing stop so you’ll be compelled to compute your reward-to-risk ratio, too.
On the other hand, save your buying power for later once ACEN shows a confirmed buy signal. Are you one of our subscribers at Equilyst Analytics? If yes, good! Use what you’ve paid for! Ask for ACEN’s latest Dominant Range Index and Market Sentiment Index in our Private Clients Forum so you can check you’ll get past the sixth question in the flowchart you saw when you watched my Evergreen Strategy 2.0 video.
You can use my trading calculators. You’ll find them in the TOOLS tab of the LIBRARY page of Equilyst Analytics’ website.
Learn How to Invest INDEPENDENTLY and Trade TACTICALLY in the Philippine Stock Market
Let me mentor you through our stock market consultancy service. Learn my Evergreen Strategy in Trading and Investing in the Philippine Stock Market.
Click here to read the details of our stock market consultancy service.
Here’s what our clients say about us.
he's able to cover a lot of good angles
Very detailed and if it were in a photoshoot, he was able to cover a lot of good angles to look at giving us pretty good insights on the stock. Another thing, the indicators. DMI is one that’s new to me and looks very interesting.
He is data based person. Always rely on data for his analysis which I wanted to learn from him.
He is data based person. Always rely on data for his analysis which I wanted to learn from him.
he is good and show so much info on how to trade or look at a chart
he is good and show so much info on how to trade or look at a chart
it's give me a lot of ideas, tips, trading strategy and indicators function.
it’s give me a lot of ideas, tips, trading strategy and indicators function.
calm and collected. he knows what he's saying.
calm and collected. he knows what he’s saying.
I learned few ideas from him and i wanted to learn more
I learned few ideas from him and i wanted to learn more
Very informative and I like his style and dedication in sharing his knowledge to the people.
Very informative and I like his style and dedication in sharing his knowledge to the people.
Your insights and style are helpful to newbies like me.
Your insights and style are helpful to newbies like me.
Very clear and concise. Makes me consider things.
Very clear and concise. Makes me consider things.
Systematic
Systematic
- MA, BDO, ALI, URC, PX: Is Their Dominant Range Pointing to a Breakout? - March 14, 2025
- Tracking Market Sentiment: MTD Ratings for 30 Bluechip Stocks (March 2025) - March 13, 2025
- PSEi Stalls Below 6,260 as Market Awaits Political Shift - March 12, 2025
