“Sir, can I still enter a new position on BPI or it’s too late for me already?”
That’s one of the questions I received a lot today.
I don’t want to give you a straight cut YES or NO answer for that question. I’ll show you what I see on my data so you can decide for yourself based on your risk tolerance.
Bank of the Philippine Islands (PSE:BPI) closed today P90.00 per share, up by 7.27 percent. It almost closed at its intraday high of 90.20.
BPI broke above its previous resistance at 85.70 today, which makes that price point as its new support level. The immediate resistance is near 95.00.
Those who attended my The Evergreen Strategy in Trading the Philippine Stock Market seminar and the subscribers of Equilyst Analytics are not shocked by BPI’s price action today.
Why?
It’s because our buy signals did not appear only today but four days ago already.
Yes, my clients were already able to position four days ahead of those who got curious on BPI only today.
What specific buy signals were spotted four days ago?
Our 10SMACD was validated and our Fantastic Four signals appeared last July 11, 2019. That was the time when BPI was still trading between 78 and 79. Where is BPI now? It’s trading at 90 per share already.
Not to hype the services and seminars of Equilyst Analytics, but as you can see, you can recover your subscription fee or seminar fee if you are serious in applying and studying what I’ve taught you.
Stop asking me if you’ll SURELY become profitable if you subscribe to our subscription service or if you attend our seminars. At the end of the day, it’s not only about the efficacy of my methods but it’s also about the quality of your attitude.
Last Friday, foreign investors registered a Net Foreign Buying worth P37 million. They registered another Net Foreign Buying worth P44 million on Monday. Today, they registered a staggering P1.2 billion worth of a Net Foreign Buying. Foreign fundies bought P1.6 worth of BPI shares and sold nearly P400 million of it today, resulting to P1.2 billion NFB.
Even though the shorter-term simple moving average (10SMA) is not yet above the longer-term ones (50SMA and 200SMA), DMI and ADX show that BPI’s upward momentum is already very strong.
BPI maintains its low-risk level with its volatility score of 44 percent. I’ll talk more about measuring the risk level of any stock in my The Evergreen Strategy in Trading the Philippine Stock Market in Davao City this July 27, Saturday, from 10am to 5pm. The early bird rate of P6,500.00 is still up. Catch up if you’d like to advance your knowledge in trading or investing. What I’ll teach you are things that are not found on Google.
If you’re just about to enter a new position on BPI, you must calculate your reward-to-risk ratio first. I am not going to answer that question in my introduction with a straight-cut “yes” or “no” because the answer will depend on your satisfaction level with the reward-to-risk ratio that you’ll calculate. If you attended my seminar, please follow Lessons 1 to 4.
Trade-Volume Distribution
Last Price: 90.00
VWAP: 88.57829871
Most Traded: 89.95 – 89.8
Most Voluminous: 88 – 90
My Trade-Volume Distribution charts confirm that the bias is on the bulls. The dominant range is closer to the intraday high than the intraday low.
I have mentioned above the top 50 percent prices that have to monitor if you will pursue entering a new position (if you’re satisfied with your reward-to-risk ratio) or topping up.
For those who have had BPI since a few days ago, you have some data-driven reasons to top-up. Just make sure you do not forget to do an upward adjustment on your trailing stop loss every time the price goes higher than its prevailing price.
If you attended The Evergreen Strategy in Trading the Philippine Stock Market seminar, please do not forget what I taught you in Lesson # 6. I taught you when to adjust your percentage of risk tolerance whenever signs of a weakening momentum are spotted.
True Market Sentiment
True Market Sentiment of BPI as of Jul-16-2019 at 03:30PM, with a last price of 90.00.
6 of the top 10 brokers registered a positive Net Amount
3 of the top 10 brokers have a higher Buying Average than Selling Average
True Market Sentiment: NEUTRAL
Top 10 Players’ Buying Average: 88.2592
Top 10 Players’ Selling Average: 88.5943
Bonus Info:
3 out of 103 participants or 2.91% of all participants registered a 100% BUYING activity
59 out of 103 participants or 57.28% of all participants registered a 100% SELLING activity
My True Market Sentiment chart gives us a neutral sentiment. The majority decided to be risk-averse by locking in some of their profits at a price higher than their Buy Average. Let’s see tomorrow if these 6 brokers who registered a positive Net Amount today will influence the other members of the top 10 list to register a higher Buying Average than Selling Average.
Recommendations
If you have had BPI and if it’s still trading above your trailing stop loss, you can go ahead and top-up within the dominant range I’ve mentioned above.
If you don’t have BPI and are planning to enter a new position, you must calculate your reward-to-risk ratio first. That’s the extra process you must go through. If you’re satisfied with your potential reward over your potential loss, you can do a test-buy within the dominant range I’ve mentioned above.
If you’re an Equilyst Analytics subscriber, I recommend that you request for BPI’s latest Trade-Volume Distribution and True Market Sentiment charts in our Private Clients Forum if and when BPI starts at a price higher or lower than the dominant range I mentioned above.
Would You Like to Learn How to Trade and Invest in the Philippine Stock Market Like a PRO?
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In my “The Evergreen Strategy in Trading the Philippine Stock Market” seminar, I will teach you:
- Lesson 1: how to identify the best stocks to trade
- Lesson 2: how to check if the current trend is more likely to continue
- Lesson 3: how to know the true market sentiment
- Lesson 4: how to identify a confirmed buy signal
- Lesson 5: how to identify the best price range to trade
- Lesson 6: how to sell more logically and less emotionally
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