BDO Technical Analysis
BDO Unibank, Inc. (BDO) is trading at 140.40 per share, up by 0.14 percent, as of 3:25PM of September 20, 2019. The total turnover value is at P811 million.
Foreign investors are the main traders of BDO today. They have registered a Net Foreign Selling worth P17 million. Foreign fundies registered three consecutive months of Net Foreign Selling from May 2019 to July 2019. The outflow of foreign funds stopped in August 2019 when these deep-pocketed investors registered a Net Foreign Buying P140.50 million. Nonetheless, they are net buyers year-to-date.
The support range is between 123 and 128. Resistance is near 142 as a precursor to 154.
BDO has been in the downtrend channel since the second week July 2019. Foreign investors are in a selling-mode this September 2019.
My 10SMACD combo is invalid. My Momentum Power Indicator is already bearish since the last price remains below the 10SMA.
An invalid 10SMACD combo and a bearish Momentum Power Indicator is NOT a buy signal.
If you already attended my Evergreen Strategy in Trading and Investing in the Philippine Stock Market seminar, you should already know the details of this.
The risk level of BDO is low due to its historical volatility score of 24 percent. Take note that having a low-risk level is NOT a buy signal. I use the risk level of a stock to align the stocks to my risk profile. If you are a beginner, I suggest looking for stocks with a low to moderate risk level. These are stocks with a historical volatility score that’s not higher than 70 percent.
I do not see clear signs of a promising rebound as of this moment. There’s no formation of a bullish convergence between the positive and the negative DMI lines. It’s more likely for the downtrend direction of price to continue unless the statuses of my 10SMACD combo and Momentum Power Indicator reverse.
Trade-Volume Distribution
Last Price: 140.40
VWAP: 140.383222
Most Traded: 140.3 – 140.4
Most Voluminous: 140.3 – 140.4
Even if the last candlestick is green and the last price is higher than the VWAP, the dominant range is closer to the intraday low than the intraday high. This means that today’s traders have no strong conviction to trade BDO closer to the intraday high by a significant level.
True Market Sentiment
True Market Sentiment of BDO as of Sep-20-2019 at 03:22PM, with a last price of 140.400.
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
True Market Sentiment: NEUTRAL
Top 10 Players’ Buying Average: 140.3967
Top 10 Players’ Selling Average: 140.3923
Bonus Info:
4 out of 28 participants or 14.29% of all participants registered a 100% BUYING activity
5 out of 28 participants or 17.86% of all participants registered a 100% SELLING activity
This neutral mood of the top 10 brokers agrees to my interpretation of the Trade-Volume Distribution chart of BDO.
Recommendations
If you have BDO…
If you still have BDO, it’s either your trailing stop loss has not been hit yet or you have no idea at all of what a trailing stop loss is.
If you’re one of our clients at Equilyst Analytics, I would say that you should have not bought BDO any time after July 2019.
Why?
Because no strong buy signals have appeared since then.
If you’re planning to enter a new position on BDO…
If you don’t have BDO and you’re planning to enter a new position, I suggest that you wait for the price to cross above the 10SMA. Wait for my 10SMACD combo to become valid and my Momentum Power Indicator to become bullish. Wait for BDO to break above 142.
Then, you re-assess. If you’re an Equilyst Analytics subscriber, you may post a request for our latest analysis of BDO in our Private Clients Forum so we can tell you if we already see confirmed strong buy signals once it breaks above 142.
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