Did you pick your heart on the floor after seeing Cebu Air’s price at P85.00 at the marketing closing as of July 9, 2019?
You’re not alone. 🙂
Apparently, what happened was a human error. Somebody mistakenly placed a sell order at P58.00 while the price was trading above P90.00.
Let’s have a minute of silence and offer our prayers to that gal or guy who pressed the wrong buttons. It’s past midnight as I write this report. I’m sure that gal or guy still can’t sleep at this moment. After all, that was a P5.5 million worth of a mess.
With no fundamental reason behind that plunge in price, CEB is more likely to go back to the P90/sh level on Wednesday unless that broker wants to fix that error in a gradual manner.
Once CEB returns to the P90/sh level, the support will remain at 80.80 while the resistance will be at 93.
Trade-Volume Distribution
Last Price: 58.00
VWAP: 76.5714
Most Traded Prices: 92.5, 92.55, 92.45, 58, 92.4
Most Voluminous Prices: 58, 92.6, 92.5, 92.55, 93
Disregarding that error at P85.00, the dominant range is between 92.40 and 92.60. Watch out for this range on Wednesday.
True Market Sentiment
True Market Sentiment of CEB as of Jul-09-2019 at 03:56PM, with a last price of 0.00.
5 of the top 10 brokers registered a positive Net Amount
4 of the top 10 brokers have a higher Buying Average than Selling Average
True Market Sentiment: Neutral
Top 10 Players’ Buying Average: 75.6048
Top 10 Players’ Selling Average: 86.9442
Bonus Info:
11 out of 26 participants or 42.31% of all participants registered a 100% BUYING activity
7 out of 26 participants or 26.92% of all participants registered a 100% SELLING activity
it’s more likely for the price to just continue trading with that dominant range I mentioned above due to the neutral sentiment I got from my True Market Sentiment chart.
Yes, Quality Investment and Securities was the culprit.
Recommendation
I advise all subscribers of Equilyst Analytics to watch the video for July 9, 2019. CEB is one of the 10 stocks I discussed in that video.
In that video, you’ll hear my recommendations for those who have been trading and for those who are planning to enter a new position on CEB.
If and when CEB starts lower or higher than 92.40-92.60, please immediately post a request for its latest Trade-Volume Distribution and True Market Sentiment charts in our Private Clients Forum so that we can update you on what to do next.
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