BHI Technical Analysis: Prepare to Buy or Sell?

Boulevard Holdings Technical Analysis

Boulevard Holdings, Inc. (PSE:BHI) is the only stock with an above-zero Day Change among the top 30 traded stocks as of closing on March 15, 2021. BHI closed today at ₱0.085, up by 14.86 percent, with a total turnover value of ₱164 million.

Foreign investors do not have significant participation in trading BHI. Today, they printed a net foreign selling worth ₱4 million. When I am filling in my watchlist, it’s a bonus criterion if the stock is heavily traded by foreign investors, too. Yes, I’ll also teach you how to select stocks for your watchlist in the pre-recorded video of my Evergreen Strategy 2.0 when you subscribe to Equilyst Analytics’ stock market consultancy service. The ₱5,000.00 discount is extended until March 19, 2021.

BHI’s immediate support is near ₱0.0725, and the immediate resistance is near ₱0.093. If and when it breaks above the resistance, I’ll be plotting an Up Fibonacci to identify its psychological resistance. I do not want to stretch my daily chart to the extreme left to find a historical resistance.

BHI has been registering impressive daily volumes this March 2021. Why did I say that? I see lots of daily volumes that are above 100 percent of BHI’s 10-day volume average on those days. An impressive volume supports today’s price hike.

Also, MACD continues to show a bullish divergence from the signal line. That’s a sign of a strong upward momentum as far as the MACD’s histogram is concerned. The DMI’s histogram seconds the motion.

On the other hand, the 10-day historical volatility of BHI suggests that this stock already has an extremely high sensitivity level due to the engulfing candlesticks it registered, particularly this March 2021. This means that the erraticity or price fluctuation of BHI is not suitable for beginners at this moment.

Dominant Range Index

Dominant Range Index: Bullish
Last Price: ₱0.085
Intraday Low: ₱0.0760
Intraday High: ₱0.0930
VWAP: ₱0.0841
Dominant Range: ₱0.08 – ₱0.09

Market Sentiment Index EOD – March 15, 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: ₱0.0842
Top 10 Players’ Selling Average: ₱0.0842
3 out of 61 participants, or 4.92% of all participants, registered a 100% BUYING activity
10 out of 61 participants, or 16.39% of all participants, registered a 100% SELLING activity

Market Sentiment Index MTD – March 1-15, 2021

Market Sentiment Index: NEUTRAL
5 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: ₱0.0777
Top 10 Players’ Selling Average: ₱0.0787
0 out of 89 participants, or 0.00% of all participants, registered a 100% BUYING activity
11 out of 89 participants, or 12.36% of all participants, registered a 100% SELLING activity

Recommendations

BHI has a confirmed buy signal because it passed all 5 critical questions when looking for a confirmed buy signal using my Evergreen Strategy 2.0. However, I’d give this confirmed buy signal for those who already have a position on BHI and not for those who are yet to do a test-buy.

Why?

It’s because the average Market Sentiment Index of the two timeframes is neutral. It’s a fair warning of looming profit-taking near the historical resistance. Besides, the last price is already past the median of immediate support and resistance. The reward-to-risk ratio is no longer attractive enough at this moment insofar as the last price, immediate support, and resistance are concerned.

If your trailing stop remains intact, you may top up within the dominant range if you’re a high-risk trader or investor. Otherwise, hold your position.

If you’re yet to enter a new position, consider your reward-to-risk ratio and this stock’s sensitivity level. The extremely high sensitivity level of BHI makes its price action a lot less predictable.

You can use my trading calculators. You’ll find them in the TOOLS tab of the LIBRARY page of Equilyst Analytics’ website.

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Jaycee De Guzman

Founder and CEO at Equilyst Analytics

Experience the expertise of Jaycee De Guzman, the brain of Equilyst Analytics, renowned for his unique data analysis. He is a computer scientist and a self-taught digital marketing strategist and agriculturist. Since Equilyst Analytics’ founding in 2012, over 10,000 local and foreign clients have consulted with Jaycee de Guzman on crypto and stock investments.

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