Cemex Holdings Philippines (CHP) retreated by 0.03 points from its closing of 2.49 last Tuesday to 2.46 on Wednesday. I’d like to attribute this to the relatively lower volume today compared to yesterday’s. Besides, CHP has been registering daily volume levels below its 10-day volume average for the past seven trading days.
While CHP maintains its position above the 10SMA, it has a lot of work to do to regain its spot above the 200 SMA. This name must close above 2.62 and preferably above 2.74 to retain its bullish state on a long-term time horizon.
If you’re waiting for the shorter-term SMAs to move above the longer-term SMAs, this issue must break the resistance at 3.60.
If this flimsy volume of CHP continues, it’ll increase the probability of this stock re-testing the support at 2.20. If and when it traverses the southward direction, CHP must breakdown below 1.90 as a pre-cursor to 1.60.
CHP has a high-risk level due to its historical volatility score above 70 percent. This stock is on a Net Foreign Selling status year to date (2019).
Price-Volume Analysis
VWAP: 2.4583
Most Traded Prices: 2.45, 2.46, 2.44, 2.5, 2.42
Most Voluminous Prices: 2.46, 2.45, 2.44, 2.43, 2.41
Top 10 Players Analysis
Trading participants of CHP with a 100% Buying and Selling Activity as of Feb-27-2019 at 03:30PM:
9 out of 38 participants or 23.68% of all participants registered a 100% BUYING activity
11 out of 38 participants or 28.95% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 2.4633
Top 10 Players’ Selling Average: 2.4700
My Overall Sentiment and Recommendation
My overall sentiment on CHP is neutral. It may change once it prints a relatively significant or bigger volume in the next few days.
If you don’t have a position on CHP yet, don’t rush. Wait near 2.20. Now, if the price starts to recover, consider doing a test-buy only when the MACD crosses above the signal line.
If you already have a position on CHP, stick with your trailing stop loss. Calculate your trailing stop loss from on your average cost if your average cost is higher than the current price. On the other hand, calculate your trailing stop loss from the current price if your average cost is less than the current price.
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