DITO CME Holdings Corp. Technical Analysis
DITO CME Holdings Corp. (PSE:DITO) has regained its position between the immediate support at ₱10.84 and immediate resistance at ₱14.00 as it is priced at ₱11.22 as of the time of writing this post.
The local traders and investors are the main drivers of the price action. On the other hand, the foreign investors have registered a net foreign selling worth ₱33.60 million today.
The total turnover value is ₱1.5 billion. Let’s see by the end of today’s trading if the foreign investors will break or register their 4-day streak of net foreign buying.
DITO is still moving inside the downtrend channel insofar as the past 15 trading days are concerned.
The Evergreen Strategy 2.0 says that DITO has no confirmed buy signal yet. It’s best for those who plan to enter a new position and are new traders or investors to wait for the price to break above the immediate resistance. When that happens, DITO will have already been trading above its 10-day simple moving average, and MACD may have already crossed above the signal line then.
DITO has an extremely high sensitivity or risk level based on its 10-day historical volatility score of nearly 223 percent. Its erraticity in the past 10-trading days is no longer newbie-friendly, so to say.
Although I see a formation of a bullish convergence between the -DMI and +DMI, DITO needs to break above its immediate resistance to convert this “formation” into a “confirmation”.
While it’s obvious that there’s no pressing concern on the daily volume of DITO, I’d like to emphasize that today’s its fifth streak of having a daily volume above 100 percent of its 10-day volume average. That means there’s a significant interest to trade this name.
Dominant Range Index (Intraday) – March 12, 2021
Dominant Range Index: Bullish
Last Price: ₱11.22
Intraday Low: ₱10.7000
Intraday High: ₱11.6000
VWAP: ₱11.2892
Dominant Range: ₱11.00 – ₱11.50
Market Sentiment Index (Intraday) – March 12, 2021
Market Sentiment Index: NEUTRAL
4 of the top 10 brokers registered a positive Net Amount
6 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: ₱11.3011
Top 10 Players’ Selling Average: ₱11.2973
12 out of 94 participants, or 12.77% of all participants, registered a 100% BUYING activity
16 out of 94 participants, or 17.02% of all participants, registered a 100% SELLING activity
Recommendations
If you’re a risk-averse trader or investor like me who’s planning to enter a new position on DITO, I advise that you wait for a breakout above the immediate resistance at ₱14.00. By that time, my Evergreen Strategy 2.0 will have already shown a confirmed buy signal.
If you already have a position on DITO and if your trailing stop is still intact, it’s still logical to hold your position since the intraday Dominant Range Index is still bullish. The intraday Market Sentiment Index is neutral.
Are you fond of monitoring the top three brokers’ actions on DITO? Aside from COL Financial, watch out for the transactions of Timson Securities, BDO Securities, and First Metro Securities.
If you’re one of our clients at Equilyst Analytics, you may post a request for our latest analysis on DITO in our Private Clients Forum as often as you want.
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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