Basic Energy Corporation (BSC) Technical Analysis
Basic Energy Corporation (BSC) registered an attempt to regain its position above P1.05, confluent with the 50 percent retracement of the Up Fibonacci. As of closing on the last trading day of January 2021, the immediate support sits at P0.85, confluent with the 61.80 percent retracement of the Up Fibonacci. On the other hand, the resistance stands near P1.05. The next resistance waits near P1.25 just in case BSC will manage to break above the immediate resistance next week.
The volume was far from disappointing last Friday, January 29, 2021, but it would have been better had it printed volume above 100 percent of BSC’s 10-day volume average.
The foreign investors’ participation in trading BSC is not significant whether you look at it on the end-of-day, week-to-date, or month-to-date basis.
One thing that new traders and investors should put into consideration is the “extremely high” level of the erraticity of BSC’s price movement. This risk level shows that irregular towering candlesticks engulfed previous candlesticks, and gaps were registered in the not-so-distant past. I encourage newbies to stick with low- to moderate-risk stocks until such time that you’ve gained enough experience and discipline and built a personal methodology. Low- to moderate-risk stocks are stocks with a 10-day historical volatility score not higher than 50 percent.
Meanwhile, I’m not confident that we can rely on the “strong upward momentum” that you’ll get when you translate the DMI histogram according to the classical way of interpreting the positions of the DMI and ADX lines. For one, the bearish divergence between the MACD and signal lines contradicts what the DMI histogram claims. The bears still have the ball, so to say.
Mind you, the 10SMACD combo of BSC is bearish. This stock needs to regain its position higher than P1.25 for a chance to see a bullish 10SMACD combo. This is not the stock for those who want a stress-free experience in trading.
Trade-Volume Distribution Analysis
Last Price: ₱1.05
Intraday Low: ₱0.9900
Intraday High: ₱1.1600
VWAP: ₱1.0771
Dominant Range: ₱1.05 – ₱1.10
BSC’s Momentum Power Indicator is bearish because the last price is lower than its volume-weighted average price (VWAP). Its dominant range is closer to the intraday low than the intraday high.
By now, you should already know that I only see a confirmed buy signal when the stock’s 10SMACD combo and Momentum Power Indicator are both bullish.
True Market Sentiment EOD – January 29, 2021
True Market Sentiment: BEARISH
5 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: ₱1.0756
Top 10 Players’ Selling Average: ₱1.0810
7 out of 72 participants, or 9.72% of all participants, registered a 100% BUYING activity
13 out of 72 participants, or 18.06% of all participants, registered a 100% SELLING activity
True Market Sentiment WTD – January 25-29, 2021
True Market Sentiment: NEUTRAL
4 of the top 10 brokers registered a positive Net Amount
6 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱1.0763
Top 10 Players’ Selling Average: ₱1.0714
1 out of 97 participants, or 1.03% of all participants, registered a 100% BUYING activity
5 out of 97 participants, or 5.15% of all participants, registered a 100% SELLING activity
True Market Sentiment MTD – January 4-29, 2021
True Market Sentiment: NEUTRAL
6 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: ₱1.2553
Top 10 Players’ Selling Average: ₱1.2536
1 out of 107 participants, or 0.93% of all participants, registered a 100% BUYING activity
5 out of 107 participants, or 4.67% of all participants, registered a 100% SELLING activity
It isn’t easy to get some strands of hope from the True Market Sentiments across three timeframes. The overall True Market Sentiment is neutral. Take a look at the percentage of market participants that registered a 100 percent buying activity on BSC on the EOD, WTD, and MTD timeframes. There’s relatively little interest to acquire and re-acquire BSC shares on a large-scale basis. As you may already know, sentiments change when things change.
Recommendations
Are you planning to do a test-buy on BSC? Postpone it for now. Wait for its 10SMACD combo and Momentum Power Indicator to switch from bearish to bullish. Ask for our latest analysis in our Private Clients Forum at Equilyst Analytics whenever you spot a significant and drastic change in its price and volume. Once it gets a bullish 10SMACD and Momentum Power Indicator, compute your reward-to-risk ratio relative to the prevailing price’s position to the prevailing immediate support and resistance. If you’re satisfied with the ratio, do a test-buy within the dominant range that you’ll see in our latest trade-volume distribution analysis (you need to request for that in our Private Clients Forum).
Do you already have BSC shares? If your trailing stop is intact, you have the option to hold your position or reduce the percentage of risk on your trailing stop. Please do not add more shares yet because it’s likely for the price to continue to move sideways with a bearish bias. Don’t waste your buying power. Peso cost-averaging will do you more harm than good if you’re buying the stock if no technical or fundamental reason makes it a buyable stock.
You may use our trailing stop calculator, reward-to-risk ratio calculator, average price calculator, new average price calculator, and other stock market calculators in our stock market library. Go to LIBRARY and click the TOOLS tab.
Let Me Mentor You So You’ll Learn How to Invest INDEPENDENTLY and Trade TACTICALLY
You will learn how to analyze stocks on your own (like I do). You will learn how to confidently and systematically execute trading and investment plans.
Click here to read the details of our stock market consultancy service.
Here’s what our clients say about us.
I like your program the most
Hi Jaycee,
It’s me again Anna. I am now in your Serial Investor Package for 6 months. In my 1 week of experiencing it. I really enjoyed it! I love it actually! It is different from TRC and PinoyInvestor which I tried before. I like your program the most. That is why instead of 6 months only I want to make most of your 50% promo. Can I extend my subscription from 6 months to 1 year by completing the money for 1 year subscription? I am hoping you can grant my request.
Have a blessed Sunday!
Thank you, Sir. I really appreciate your inputs.
Thank you, Sir. I really appreciate your inputs.
Keep it up!
Thanks for sharing your knowledge. Keep it up!
I've earned because of you
Jaycee, I’d like to tell you that I was able to earn a good amount by “connecting the dots” on the free technical analysis articles you regularly post on your website. I’m sure I would get more value by becoming a premium member. I’ve subscribed to your Stock Signals for 15 months. I am excited to learn and to earn with your assistance.
helpful information
Thanks a lot, sir. That’s truly a helpful information. I’m hoping to keep in touch with you soon.
kakaiba yung sa inyo sir
Tama nga yung nabasa ko sa isang Facebook group tungko sa iyo sir jaycee, na para ka lang nanonood ng Batibot with the way you explain technical stuff with us sa stock signals program mo po. pinagsabay ko yung TRC at pinoy investor subscription ko dati sir bago pa ako nagsubscribe sa iyo. yung sa TRC makikita rin naman sa COL. yung sa pinoy investor, kung magaling ka lang sa search2x sa google mababasa mo rin naman yung info na binibigay nila. may sarili ka bang software sa pagaanalyze sir? kakaiba yung sa inyo sir. nagpatindi pa yung layman na layman na explanation mo sir. kumpletos-rekados ika nga. madalas di ko na kailangang magtanong dahil nasasagot na agad sa explanation mo sir. tapusin ko lang yung binayad ko sa TRC at Pinoy investor tapos eextend ko pa ng 1 year subscription ko sa stock signals program sir surebol yun. Thank you sir Jaycee!
Your analysis is very useful in my decision making
Your analysis is very useful in my decision making. Thank you very much.
Kudos to you Sir Jaycee! God bless Sir!
Sir! I’m one of your 1st customers since 2014. What I like the most in the Stock Signals Program is that hindi mo kami binibigyan ng jargons. Dun sa kung kanino ako dati nakasubscribe hindi ko alam kung yung analyst lang ang nakakaintindi sa mga sinasabi nila o nagkakacopy and paste lang. Dun sa isa naman buy below price lang tapos parang ang dating e bahala na kaming bumili kung saan namin gusto. Para bang tapos na trabaho nila after nila ibato ang buy below price nila. Sabi mo nga Sir you could have chosen to just give us your buy below price din tulad ng iba but thankfully hindi mo ginawa yun. Kudos to you Sir Jaycee! God bless Sir!
very detailed explanation of your recommendation
Sir Jaycee,
I’m happy that I’ve discovered your Stock Signals Program. I was a TrulyRichClub subscriber until yesterday. My officemate, who happens to be your subscriber since 2014, told me about your Stock Signals Program. He also showed to me what he gets from your program. I must say I was wowed to see how you are so different and better than Truly Rich Club. Indeed, you are not only giving your subscribers a buy below price. You also give them the best buying range in that buy below price. Plus you give a very detailed explanation of your recommendation. How do you manage to do all that the entire trading period every day? Well, please welcome me to your team for I am now a subscriber of yours. Payment has been sent. Cheers!
Louie
Thank you for your assistance
Good day sir jaycee. Ive read it already and am amaze. So far yun lang ang inquiries ko.
Thank you for your assistance. Highly appreciate such gesture.
Will be thinking muna about it since I’m a full time house wife. Will be planning muna where to get the funds.
Thank you again
Cheyenne
- 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
