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.
in-depth analysis
I appreciate the in-depth analysis that you continuously shared in your e-mails.
I'm amazed
Thank you for explaining what seems to be something complicated to something understandable. This will help me in my decision now. I’m amazed too that in spite your busy schedule you treat each one here as if we hired a personal mentor to coach us all the way. I guess you can tick that on your list as you are very true to what you committed to before I joined Stocks Signal. Thank you and I’m picking up your philosophy bit by bit.
Thankful that I subscribed to Sir Jaycee
Thankful that I subscribed to Sir Jaycee. Since I don’t have to time to study technical terms, I like the way he writes his EOD remark for top stock picks. 400 pesos a month is so cheap for a service like this. Thank you sir!
helps me become an intelligent trader and investor
I remember the first I joined stock investing I also joined the Truly Rich Club to assist me, with the knowledge I must need. But sad to say, it didn’t help me at all. I’m glad I came across seeing links and articles of Stock Signals. In my personal assessment with the free articles I am receiving via email, I am sure of myself that this is the help and knowledge or mentoring I am looking for. I want to become an intelligent trader and investor soon with the help of Stock Signals. Thank God I got to know you, Stock Signals. More Power and God bless!
I like your program the most
Jaycee,
I never heard your name so I was hesitant to subscribe to your program. To test your Stock Signals Program, I have subscribed for 6 months. When I checked your system on day 1, I realized I was the greater fool for not subscribing to you a long time ago. Been to TRC, been to PinoyInvestor, been to various paid FB Groups, but I like your program the most. Keep up the good work. I owe you an apology for doubting you at first.
Wil
very helpful and gave me a new perspective on available opportunities in the stock market
Thank you for sharing your analysis to the public. I really appreciate the time you spent on this article. It is very helpful and gave me a new perspective on available opportunities in the stock market. Mabuhay kayo sir
happy with my portfolio because of your guidance
Sir Jaycee,
I’ve been following your stock analysis posts since last year. I must say that my 1 year subscription to your program has been long overdue. I’m so happy seeing my portfolio because of your guidance. Had I subscribed to your Stock Signals Program last year, I would have been happier. Sayang. Naging kawalan ko pa yung patumpik-tumpik kong decision on whether I subscribe or not. I was subscribed to Truly Rich Club kasi nun. Your program is way way way better yet cheaper than the TRC of Bro Bo Sanchez. Sir, you’ve just won a loyal client in me. Thank you. God bless.
Cordially,
Randz
he helped me recover from my -30% loss last year
I subscribed to Mr. De Guzman’s Stock Signals Program last year. I am happy with his service. He delivers more than what I am paying for. He is responsive to my emails even if he has hundreds of clients to attend. Not only did he help me recover from my -30% loss last year, he has also helped me grow my stock portfolio by more than 20% this April. Mr. De Guzman should have offered his service a long time ago. Where have you been all those years, Mr. De Guzman? I’m only kidding. You know how thankful I am to you. Again thank you so much.
has helped me a lot in my decision making and evaluation of stocks
Hi, Jaycee thank you for the informative articles that you provide to us. It has helped me a lot in my decision making and evaluation of stocks.
exceptional and really informative
Hi, Jaycee, thanks for allowing us to read your articles for free. the outputs you made are really exceptional and really informative especially for those who are about to start trading. As much as I would like to subscribe I can’t afford because I am currently suffering huge losses more than you could ever imagine. 438% to break even is not a joke, right? But yeah good job!
- 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
