Bloomberry Resorts Corporation soared by 7.62% as of market closing on February 15, 2019. It also registered its biggest one-day volume and Net Foreign Selling (NFS) today six years after it registered a P1.346 billion NFS last January 14, 2013.
Despite this relatively significant NFS, the P1.18 billion buying activity of the local investors managed to take the price all the way to the resistance at 13.00 apiece.
If I were to speculate what could have pushed BLOOM this much, it could be the 0.017% weight increase for this stock in the MSCI Philippines Emerging Market Small Capital Index.
The main support is at 10.19. The standing resistance now is at 14.85.
If you are following my style of entering a position when the stock price goes above the 10-day simple moving average AND when the MACD crosses above the signal line, with a volume above the 10-day volume average, you would have done a test-buy on this stock last November 22, 2018. If you also have 10% risk applied to your trade setup, you must be still in the game by now (not whipsawed due to a very tight risk tolerance percentage). Just follow your trailing stop loss (where 10% risk is applied) and you should be fine.
Price-Volume Distribution
VWAP: 12.7507
Most Traded Prices: 13, 12.28, 12.4, 12.3, 12.42
Most Voluminous Prices: 13, 12.4, 12.3, 12.32, 12.34
Aside from the price points I’ve mentioned prior to this price-volume chart, I suggest that you pay attention to the VWAP of 12.75 also.
BLOOM might treat 12.75 as an intraday support on Monday.
Of course, aside from 12.75, mark those most traded and voluminous price points on Monday. They can be your candidates for a buying price should you decide to trade BLOOM.
Top 10 Players
Trading participants of BLOOM with a 100% Buying and Selling Activity as of Feb-15-2019 at 03:30PM:
6 out of 79 participants or 7.59% of all participants registered a 100% BUYING activity
45 out of 79 participants or 56.96% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 12.7085
Top 10 Players’ Selling Average: 12.7916
The top 10 players’ buying average is pegged at 12.70. This figure is a more risk-averse take compared to the VWAP of 12.75.
Now you have a range to monitor aside from the most traded and voluminous prices – 12.70-12.75.
Is It Safe to Enter a New Trade on BLOOM?
Nothing’s safe when trading equities. Think of a better adjective.
If BLOOM breaks out above 13.00 with volume on Monday, try to test-buy. Increase your exposure as the rally continues. Always be on top of your trailing stop loss.
If BLOOM retreats, keep an eye on the mid-term support at 11.08, which is in confluence with 50% Fibonacci retracement. If the price continues to gravitate below 11.08, wait near 10.19.
Keep in mind 12.70-12.75 and the most traded and voluminous prices, too.
You can subscribe to EquiPicks if you need my guidance when it comes to short-term trading or long-term investing.
Let me know your thoughts about my analysis of BLOOM.
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